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CA Final Ind AS 19 Employee Benefits — practice questions — page 2

Explore 37 free Ind AS 19 Employee Benefits questions in CA Final Financialreporting. Open each question or exercise to read its content, reference answers and available explanation.

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Ind AS 19 Employee Benefits questions and exercises with answers

Showing questions 31–37 of 37.

Which plan type covered earlier Central Government employees in India, before the NPS?Read the answer and worked solution →What is the employee's contribution rate to EPF on the basic wage?Read the answer and worked solution →An employee's EPF wage is 15,000 a month. What is the 12 percent employee contribution?Read the answer and worked solution →Basic wage is 40,000 and the EPF wage cap is 15,000. What is the 12 percent share?Read the answer and worked solution →Housing and group insurance offered to staff are best described as what?Read the answer and worked solution →What is an arrangement where cash wages are swapped for another benefit usually called?Read the answer and worked solution →What is a key purpose of providing employee benefits?Read the answer and worked solution →

Worked practice questions

Which plan type covered earlier Central Government employees in India, before the NPS?

  1. Defined Benefit Plan
  2. Defined Contribution Plan
  3. Provident Fund only
  4. Gratuity trust only
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Correct answer: A. Defined Benefit Plan

Employees who joined before 2004 were under a defined benefit plan.

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What is the employee's contribution rate to EPF on the basic wage?

  1. 8 percent
  2. 10 percent
  3. 12 percent
  4. 15 percent
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Correct answer: C. 12 percent

Both employee and employer contribute 12 percent of basic wage under the Act.

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An employee's EPF wage is 15,000 a month. What is the 12 percent employee contribution?

  1. 1,500
  2. 1,200
  3. 1,800
  4. 2,400
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Correct answer: C. 1,800

12 percent of 15,000 equals 1,800.

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More Financialreporting topics

Ind AS 116 LeasesInd AS 36 Impairment of Assets and Ind AS 38 Intangible AssetsInd AS 24 Related Party Disclosures and Ind AS 108 Operating SegmentsInd AS 1 Presentation of Financial StatementsInd AS 12 Income TaxesInd AS 113 Fair Value MeasurementInd AS 109 Financial InstrumentsInd AS 23 Borrowing Costs and Ind AS 40 Investment Property