Amal Ltd 2012-13

55 Notes to financial statements Sr Particulars Gratuity Leave Encashment No 2012-13 2011-12 2012-13 2011-12 Sr Particulars Gratuity Leave Encashment No 2012-13 2011-12 2012-13 2011-12 (i) Changes in present value of obligation (ii) Changes in fair value of plan assets (iii) Percentage of each category of Plan assets to total fair value of Plan assets as at March 31 (iv) Reconciliation of Present Value of Defined Present Obligation and the fair value of Assets (v) Net asset | (liability) recognised in the Balance Sheet as at March 31 1 Discount rate (per annum) 8.00% 8.75% 8.00% 8.75% 2 Rate of increase in compensation levels 7.00% 6.00% 7.00% 6.00% 3 Rate of return on plan assets 8.70% 8.60% N.A. N.A. ('000) Opening balance of present value of 217.45 326.27 90.88 125.75 Obligation Liability on transfer in | (out) of Employees (Net) - (154.22) - (47.09) Interest cost 19.03 25.87 7.95 10.50 Current service cost 50.59 37.74 36.50 25.14 Benefits paid (164.80) - (34.05) - Actuarial (Gain) | Loss 323.59 (18.21) 38.30 (23.42) Closing balance of present value of obligation 445.86 217.45 139.58 90.88 Opening balance of present value of plan assets 1,130.85 1,037.48 - - Planned assets on transfer in | (out) of - - - - Employees (Net) Expected return on plan assets 97.26 83.00 - - Contributions 2.14 - - - Benefits paid (164.80) - - - Actuarial Gain / (Loss) on plan assets (6.21) 10.37 - - Closing balance of fair value of plan assets 1,059.24 1,130.85 - - Administered by LIC of India 100% 100% - - Closing balance of present value of obligation 445.86 217.45 139.58 90.88 Closing balance of fair value of plan assets 1,059.24 1,130.85 - - (Asset) | Liability recognised in theBalance Sheet (613.38) (913.40) 139.58 90.88 Closing balance of present value of obligation 445.86 217.45 139.58 90.88 Closing balance of fair value of plan assets 1,059.24 1,130.85 - - Funded (Asset) | Liability recognised in the (613.38) (913.40) - - Balance Sheet Unfunded (Asset) | Liability recognised in - - 139.58 90.88 the Balance Sheet ` Valuation in respect of Gratuity and Leave Encashment have been carried out by independent actuary, as at theBalance Sheet date,basedon the followingassumptions: