Management of funds is always a complex task for any organization, especially when one does not have a specialized treasury management function. A mistake in fund management can bring liability on the authorities. Outsourcing the same allows flexibility and professional management of funds apart from easy administration of the benefits.
Gratuity fund management requires formation of a trust and obtaining expense exemption from the IT authorities on the contribution made for the fund. Insurers will advise on the same.
Plan management is the most important aspect of the Superannuation fund. Giving it to insurers helps management of fund in a large pool, creates security and eases administration.
Employers can make multiple choices on investment from conservative treasury bonds to a moderate risk equity and debt combination fund. Edify can help you make the right choice.