AM Employee Funds

Employees Gratuity Fund

• Maintain precise records of every employee's admission to the scheme and eventual termination. Track service length to determine eligibility. Ensure disbursements are made within the legally required timeframe. Maintain detailed logs of trust bank transactions, employer contributions, and payments to employees. Coordinate annual actuarial valuations to assess the fund's future liability and ensure it is properly funded. Facilitate independent annual audits of the fund's income and expenditures to ensure transparency and prevent fraud. Coordinate with employees, HR, and finance departments, and issue member benefit statements and other relevant information. Maintain books of accounts, prepare financial statements.

Employees Provident Fund

• Collect and accurately record monthly deductions from employee wages and corresponding employer matching contributions. Facilitate the opening of individual member accounts and ens...