107 (` lakhs) Expenses recognised for the year ended March 31, 2023 (included in Note 24) 2022-23 2021-22 Present value of unfunded obligations 12.24 10.47 - Current 1.39 1.59 - Non-current 10.85 8.88 Expense recognised in the Standalone Statement of Profit and Loss 3.64 4.62 Discount rate 7.35% 6.41% Salary escalation rate 9.84% 10.70% c) Defined contribution plans: Provident fund 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 Standalone Statement of Profit and Loss. The Company has recognised the following amounts in the Standalone Statement of Profit and Loss for the year (refer Note 24): (` lakhs) Particulars 2022-23 2021-22 Contribution to provident fund 4.07 4.57 Contribution to employees pension scheme 1995 4.89 5.49 Contribution to employees’ state insurance 1.29 1.15 Contribution to employee depository linked insurance 0.30 0.33 10.55 11.53 Note 27.5 Employee benefit obligations (continued)
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