Amal Ltd 2019-20

Amal Ltd | Annual Report 2019-2020 ( ` lakhs ) Expenses recognised for the year ended March 31, 2020 (included in Note 23) 2019-20 2018-19 Present value of unfunded obligations 3.91 3.51 - Current 1.01 0.57 - Non Current 2.90 2.94 Expense recognised in the Statement of Profit and Loss 0.40 1.98 Discount rate 6.43% 7.48% Salary escalation rate 8.40% 8.04% c) Defined contribution plans: i) Provident fund ii) State defined contribution plans Employers’ contribution to employees’ state insurance Employers’ contribution to Employees’ Pension Scheme 1995 The provident fund and the state defined contribution plans are operated by the Regional Provident Fund Commissioner. Under the scheme, the Company is required to contribute a specified percentage of payroll cost to the retirement benefit scheme to fund the benefits. These funds are recognised by the income tax authorities. The contribution of the Company to the provident fund and other contribution plans for all employees is charged to the Statement of Profit and Loss. The Company has recognised the following amounts in the Statement of Profit and Loss for the year (refer Note 23): ( ` lakhs ) Particulars 2019-20 2018-19 Contribution to provident fund 2.45 1.46 Contribution to Employees’ Pension Scheme, 1995 2.20 1.53 Contribution to employees' state insurance 0.54 0.65 Contribution to EDLI 0.13 0.10 5.32 3.74 The Company is studying the legal position on the implications of the relevant judgement of the Supreme Court on applicability of provident fund on its various allowances and is in the process of expeditiously depositing related dues, if any. Note 26.5 Employee benefit obligations (continued) Notes to the Financial Statements