117 (` lakhs) Particulars Present value of obligation Fair value of plan assets Net amount Employer contributions - (4.07) (4.07) As at March 31, 2023 liability | (asset) 14.49 (21.72) (7.23) Current service cost 2.57 - 2.57 Interest expense | (income) 1.07 (1.59) (0.52) Total (income) | expense recognised in Statement of Profit and Loss 3.63 (1.59) 2.04 Remeasurement (Gain) | Loss from change in financial assumptions 0.59 - 0.59 Return on plan assets, excluding amount included in interest expense (0.20) (0.12) (0.32) Experience (gain) (0.65) - (0.65) Total (income) | expense recognised in other comprehensive income (0.26) (0.12) (0.38) Employer contributions - (0.06) (0.06) Transfer in | out (0.51) 0.51 - As at March 31, 2024 liability | (asset) 17.35 (22.97) (5.62) The net liability disclosed above relates to following funded and unfunded plans: (` lakhs) Particulars As at March 31, 2024 As at March 31, 2023 Present value of funded obligations 17.35 14.49 Fair value of plan assets (22.97) (21.72) (Surplus) of gratuity plan (5.62) (7.23) Significant estimates: Actuarial assumptions and sensitivity The significant actuarial assumptions were as follows: Particulars As at March 31, 2024 As at March 31, 2023 Discount rate 7.19% 7.35% Attrition rate 14.00% 13.00% Rate of return on plan assets 7.19% 7.35% Salary escalation rate 10.36% 9.84% Mortality rate Indian assured lives mortality (2012-14) urban Indian assured lives mortality (2012-14) urban Note 29.5 Employee benefit obligations (continued)
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