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18

Reliancedigital Retail Limited

SCHEDULE ‘N’ (Contd.) Defined Benefit Plan

The present value of obligation is determined based on actuarial valuation using the Projected Unit Credit Method, which recognises each period of service as giving rise to additional unit of employee benefit entitlement and measures each unit separately to build up the final obligation. Obligation for leave encashment is recongised in the same manner as per gratuity.

The Company operates post retirement benefit plans as follows:

I.

Reconciliation of opening and closing balances of Defined Benefit obligation

Rs. in lakh

Gratuity (Unfunded)

Leave Encashment (Unfunded)

2009-10

2008-09

Defined Benefit obligation at beginning of the year

40.37

58.63

Current Service Cost

20.15

18.17

Interest Cost

3.03

4.69

Actuarial (gain)/ loss

0.75

( 41.12)

Benefits paid

( .28)

-

Defined Benefit obligation at year end

64.02

40.37

2009-10

2008-09

198.73

137.43

13.20

44.81

10.64

10.00

( 66.00)

31.44

( 113.84)

( 24.95)

42.73

198.73

II.

Reconciliation of opening and closing balances of fair value of plan assets

Fair value of plan assets at beginning of the year Expected return on plan assets Actuarial gain/ (loss) Employer contribution(Refund) Benefits Paid Fair value of plan assets at year end III. Reconciliation of fair value of assets and obligations

2009-10 2008-09

-

58.63

-

-

-

-

0.28

(58.63)

(0.28)

-

-

-

Gratuity Unfunded

2009-10 2008-09

-

-

-

-

-

-

. 113 84

( 113.84)

-

-

-

Rs. in lakh

Leave Encashment Unfunded

Rs. in lakh

2009-10

2008-09

-

-

64.02

40.37

64.02

40.37

Fair value of plan assets Present value of obligation Amount recognised in Balance Sheet

Gratuity (Unfunded)

Leave Encashment (Unfunded)

2009-10

2008-09

-

-

42.73

198.73

42.73

198.73

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