Notes on
Accounts
Balance Sheet
Details of provision for Gratuity
Fair Value of Plan Assets at the end of the period
48.15
23.86
Liability at the end of the period
135.70
111.17
Difference
87.55
87.32
Less: Unrecognised past service cost
NIL
NIL
Amount recognized in the Balance Sheet
87.55
87.32
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Interest Cost
10.00
7.13
Current service cost
15.51
13.83
#FOFmU QBJE
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o
o
Actuarial losses on obligation
1.97
6.61
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March 31, 2014
March 31, 2013
`
in million
`
in million
Current Service cost
15.51
13.83
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Net actuarial loss recognized in the year
3.06
6.61
Past service cost
–
–
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directors in the current year, the amount has been written off. Necessary formalities for obtaining regulatory permission from RBI
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39.
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`
124.43 million (previous year
`
135.34 million) has been included in the value of inventories
BT PO
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40.
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taken a Scheme of Insurance, whereby these contributions are transferred to the insurer. The Company makes provision of such
gratuity asset/liability in the books of accounts on the basis of actuarial valuation as per the Projected unit credit method. Plan
assets also include investments and bank balances used to deposit premiums until due to the insurance company.
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funded status and amounts recognized in the balance sheet for the plan:
Fair value of plan assets as at 1st April, 2013
23.85
24.35
Return on Plan Assets
3.24
2.50
Contributions by employer
25.10
–
#FOFmUT QBJE
Actuarial Gains / (losses)
(1.09)
–
Fair value of plan assets as at 31st March, 2014
48.15
23.86
Changes in the fair Value of plan assets are as follows:
67
Annual Report 2013-14
