Key Changes in Wage Definition | Impact on Actuarial Valuations

Описание: 🔍 How will the new wage definition impact actuarial valuations and employee benefits?

One of the most important changes introduced by the Code on Social Security, 2020 is the new definition of wages, which affects the calculation of employee benefits such as gratuity and leave encashment.
This session explains the key components included and excluded from wages, the 50% rule, and how companies may need to restructure compensation to comply with the new regulations.


🎯 Topics Covered:
• Definition of Wages under the New Labour Codes
• Components Included and Excluded from Wages
• The 50% Threshold Rule
• Interpretation Principles (Universality & Incentives)
• Practical Salary Structure Scenarios


📥 Download the full presentation and Q&A sheet:
https://forms.gle/VsGsWRevZhs1THAdA


📢 This webinar was conducted on 16 December 2025 by KPAC – KP Actuaries and Consultants LLP, a leading actuarial consulting firm specializing in employee benefit valuations.


🎙 Speakers:
🔹 Khushwant Pahwa | FIAI, FIA | Founder and Consulting Actuary at KPAC
🔹 Surbhi Jindal | Associate Vice President – Actuarial


Watch the Complete Webinar Series
👉 Part 1: Introduction to the Webinar & Code on Social Security, 2020 :    • Introduction to New Labour Codes & Wage De...  
👉 Part 3: Potential Financial Impact & The Way Forward :    • Impact of New Wage Definition on Gratuity ...  
👉 Part 4: Expert Q&A Session :    • New Wage Definition: Practical Impact & Q&...  


🌐 Website: https://www.kpac.co.in/
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📚 Knowledge Centre: https://www.kpac.co.in/knowledge-centre


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