Indian Accounting Standard (Ind-AS) 19 ‘Employee Benefits

The advancement of loans at zero/concessional rate of interest are made to the eligible employees as per the terms of service, the implied benefit is on the basis of the services rendered by the employee. Para 7 of Indian Accounting Standard (Ind-AS) 19 ‘Employee Benefits’ defines employee benefits as all forms of consideration given by an entity in exchange for service rendered by employees. Accordingly, the implied benefit has to be recognised as employee benefit expense.


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