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Short Term Employee Benefi Generally construed to mean benefits which fall due wholly
within 12 months after end of the period in which the
employee render the related service.Some benefits could be long-term but payable before
retirement e.g. Retention Bonus. If these benefits are
actuarially valued, danger of double counting should be
avoided. Retention Bonus may be paid on completion of
5 years but after 4 years it will be due within 12 months but
this payment may also form part of actuarial value; clarity
required.