Current v/s Non-current – Solution (contd.) 12 C.For funded post-employment benefit obligations, amount due for payment to the fund created for this p
{"Image DocumentName": "Current v/s Non-current \u2013 Solution (contd.)", "Image ImageDescription": "C. For funded post-employment benefit obligations, amount due for payment to the fund created for this purpose within twelve months is treated as current liability. D. For unfunded postemployment benefit obligations, a company will have settlement obligation at the Balance Sheet date or within twelve months for employees such as those who have already resigned or are expected to resign (which is factored for actuarial valuation) or are due for retirement within the next twelve months from the Balance Sheet date. Thus, the amount of obligation attributable to these employees is a current liability. The remaining amount attributable to other employees, who are likely to continue in the services for more than a year, is classified as non-current liability. Normally the actuary should determine the amount of current & non-current liability for unfunded post-employment benefit obligation based on the definition of Current and Non-current assets and liabilities in the Revised Schedule VI.", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}