Amal Ltd | Annual Report 2021-22 (` lakhs) Particulars Present value of obligation Fair value of plan assets Net amount As at March 31, 2021 liability | (asset) 9.03 (13.73) (4.70) Current service cost 2.20 - 2.20 Interest expense | (income) 0.58 (0.89) (0.31) Total (income) | expense recognised in Consolidated Statement of Profit and Loss 2.78 (0.89) 1.89 Remeasurement (Gain) | loss from change in financial assumptions 2.07 - 2.07 Return on plan assets, excluding amount included in interest expense (1.08) 0.02 (1.06) Experience (gain) 0.44 - 0.44 Total (income) | expense recognised in other comprehensive income 1.43 0.02 1.45 Employer contributions - (2.09) (2.09) Liability for employee transferred - - - Benefits paid - - - As at March 31, 2022 liability | (asset) 13.24 (16.69) (3.45) The net liability disclosed above relates to following funded and unfunded plans: (` lakhs) Particulars As at March 31, 2022 As at March 31, 2021 Present value of funded obligations 13.24 9.03 Fair value of plan assets (16.69) (13.73) (Surplus) of gratuity plan (3.45) (4.70) Significant estimates: Actuarial assumptions and sensitivity The significant actuarial assumptions were as follows: Particulars As at March 31, 2022 As at March 31, 2021 Discount rate 6.41% 6.44% Attrition rate 15.00% 8.00% Rate of return on plan assets 6.41% 6.44% Salary escalation rate 10.70% 7.62% Mortality rate Indian assured lives mortality (2012-14) urban Indian assured lives mortality (2006-08) ultimate Note 26.5 Employee benefit obligations (continued)
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