Amal Ltd 2018-19

Amal Ltd | Annual Report 2018-2019 Note 29 Employee benefit obligation (continued) ( ` 000) Particulars Gratuity 2018-19 2017-18 iii) % of each category of plan assets to total fair value of plan assets as at March 31 Policy of insurance (Administered by Life Insurance Corporation of India) 100% 100% iv) Net asset | (liability) recognised in the Balance Sheet as at March 31 Closing balance of present value of obligation 660 491 Closing balance of fair value of plan assets (1,580) (1,472) Funded (asset) | liability recognised in the Balance Sheet (920) (981) Provisions Current (920) (981) Non-current - - v) Expenses recognised in the Statement of Profit and Loss Current service cost 67 54 Net interest cost (77) (60) Expenses recognised in the Statement of Profit and Loss (refer note 19) (10) (6) vi) Expenses recognised in other comprehensive income (OCI) Actuarial losses on obligation for the year 64 (36) Return on plan assets excluding interest income 13 (9) Net expenses for the year recognised in OCI (refer note 19) 77 (45) vii) Expected employer's contribution for the next year Nil Nil Significant estimates: Actuarial assumptions and sensitivity The significant actuarial assumptions were as follows: Particulars Gratuity 2018-19 2017-18 1. Discount rate 7.48% 7.80% 2. Attrition rate 11.87% 9.70% 3. Rate of return on plan assets 7.48% 7.80% 4. Salary escalation rate 8.04% 8.27% and 6% 5. Mortality Rate Indian Assured Lives Mortality (2006-08) Ultimate Indian Assured Lives Mortality (2006-08) Ultimate Notes to the Financial Statements