185 Corporate Overview Performance Overview Financial Statements Governance Overview Statutory Reports Note 28.5 Employee benefit obligations Funded schemes a) Defined contribution plans: Gratuity The gratuity fund is maintained with the Life Insurance Corporation of India and Bajaj Allianz Life Insurance under Group Gratuity scheme. (` lakh) Particulars Present value of obligation Fair value of plan assets Net amount As at April 01, 2023 liability | (asset) 14.86 (21.72) (6.86) Current service cost 4.51 - 4.51 Interest expense | (income) 1.18 (1.59) (0.41) Total (income) | expense recognised in Consolidated Statement of Profit and Loss 5.69 (1.59) 4.10 Remeasurement Loss from change in financial assumptions 0.89 - 0.89 Return on plan assets, excluding amount included in interest expense (0.43) (0.19) (0.62) Experience (gain) 0.02 - 0.02 Total (income) | expense recognised in other comprehensive income 0.48 (0.19) 0.29 Employer contributions 0.51 (0.57) (0.06) Benefits paid - - - Transfer in | out (0.51) 0.51 - As at March 31, 2024 liability | (asset) 21.02 (23.56) (2.54) Current service cost 5.61 - 5.61 Interest expense | (income) 1.08 (1.77) (0.69) Total (income) | expense recognised in Consolidated Statement of Profit and Loss 6.69 (1.77) 4.92 Remeasurement Loss from change in financial assumptions 0.44 - 0.44 Return on plan assets, excluding amount included in interest expense 2.87 (0.42) 2.45 Experience (gain) (2.63) - (2.63) Total (income) | expense recognised in other comprehensive income 0.68 (0.42) 0.26
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