Amal Ltd 2016-17

Notes to the Financial Statements Amal Ltd | Annual Report 2016-17 ( ` 000) Particulars Gratuity 2016-17 2015-16 2014-15 (i) Changes in present value of obligation Opening balance of present value of obligation 467 491 377 Interest cost 35 38 31 Current service cost 100 93 100 Benefits paid - - (82) Actuarial (gain) | loss 65 Due to change in demographic assumption - - - Due to experience (191) (161) - Due to financial assumptions 33 6 - Closing balance of present value of obligation 444 467 491 (ii) Changes in fair value of plan assets Opening balance of present value of plan assets 1,270 1,167 1,152 Expected return on plan assets Expenses deducted from the fund - (6) - Interest income 83 91 - Return on plan assets excluding amounts included in interest income 6 18 97 Contributions 7 - - Benefits paid - - (82) Actuarial gain | (loss) on plan assets - - 1 Closing balance of fair value of plan assets 1,366 1,270 1,168 (iii) Percentage of each category of plan assets to total fair value of plan assets as at March 31 Policy of Insurance (Administered by LIC of India) 100% 100% 100% ( ` 000) Particulars Gratuity 2016-17 2015-16 2014-15 (iv) Net asset | (liability) recognised in the Balance Sheet as at March 31 Closing balance of present value of obligation 444 467 491 Closing balance of fair value of plan assets 1,366 1,270 1,168 Funded (asset) | liability recognised in the Balance Sheet (922) (803) (677) Provisions Current (60) - - Non Current (862) (803) (677)