Notes on
Accounts
5IF GPMMPXJOH UBCMFT TVNNBSJ[F UIF DPNQPOFOUT PG OFU CFOFmU FYQFOTF SFDPHOJTFE JO UIF QSPmU BOE MPTT BDDPVOU BOE UIF
funded status and amounts recognised in the balance sheet for the plan:
1SPmU BOE -PTT BDDPVOU
/FU FNQMPZFF CFOFmU FYQFOTF SFDPHOJ[FE JO &NQMPZFF DPTU
March 31, 2014
March 31, 2013
`
in million
`
in million
Current Service cost
15.76
13.83
*OUFSFTU DPTU PO CFOFmU PCMJHBUJPO
Net actuarial loss recognised in the year
3.82
6.61
Past service cost
–
–
&YQFDUFE 3FUVSO PO 1MBO "TTFUT
/FU CFOFmU FYQFOTF
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
136.71
111.17
Difference
88.56
87.32
Less: Unrecognised past service cost
NIL
NIL
Amount recognized in the Balance Sheet
88.56
87.32
%FmOFE CFOFmU PCMJHBUJPO BT BU "QSJM
Interest Cost
10
7.13
Current service cost
15.76
13.83
#FOFmU QBJE
1BTU 4FSWJDF $PTU o 7FTUFE #FOFmU
o
o
Actuarial losses on obligation
2.73
6.61
%FmOFE CFOFmU PCMJHBUJPO BT BU TU .BSDI
$IBOHFT JO UIF QSFTFOU WBMVF PG UIF EFmOFE CFOFmU PCMJHBUJPO BSF BT GPMMPXT
Fair value of plan assets as at April 1 2013
23.85
24.35
Return on Plan Assets
3.24
2.50
Contributions by employer
25.1
–
#FOFmUT QBJE
Actuarial Gains / (losses)
(1.09)
–
Fair value of plan assets as at March 31, 2014
48.15
23.85
Changes in the fair Value of plan assets are as follows:
March 31, 2014
March 31, 2013
%
%
Discount rate
9.00%
8.25%
&YQFDUFE SBUF PG SFUVSO PO QMBO BTTFUT
Salary Escalation
8.50%
7.75%
Attrition Rate
1%
1%
Retirement Age
60 Years
60 Years
5IF QSJODJQBM BTTVNQUJPO VTFE JO EFUFSNJOJOH HSBUVJUZ CFOFmU PCMJHBUJPOT
for the Company’s plans are shown below:
5IF FTUJNBUFT PG GVUVSF TBMBSZ JODSFBTFT DPOTJEFSFE JO BDUVBSJBM WBMVBUJPO UBLF BDDPVOU PG JOnBUJPO TFOJPSJUZ QSPNPUJPO BOE
other relevant factors, such as supply and demand in the employment market.
0O DPOTJEFSBUJPO PG NBUFSJBMJUZ UIF FOUJSF MJBCJMJUZ IBT CFFO DMBTTJmFE BT B iOPO DVSSFOU MJBCJMJUZw
89
Annual Report 2013-14
