Atul Ltd 2008-09

Schedules forming part of the Account s | Annual Report 2008-09 SCHEDULE 16 NOTES FORMING PART OF THE ACCOUNTS (Contd.) 21 Employee benefits: (a) Defined benefit plans: Expenses recognised for the year ended on March 31, 2009 (included in Schedule 13 of Profit and Loss Account) (Rs in lacs) Particulars 2008-09 2007-08 Gratuity funded Gratuity funded 1 Current service cost 134.28 277.86 2 Interest cost 195.65 191.28 3 Expected return on plan assets (218.64) (191.08) 4 Employer contribution (receipt) - - 5 Actuarial losses | (gains) 233.17 (152.65) Expenses recognised in Profit & Loss Account 344.46 125.41 Reconciliation of net assets | (liability) recognised in the Balance Sheet as at March 31, 2009 Particulars Gratuity funded Gratuity funded 1 Net assets | (liability) at beginning of the year 16.59 8.59 2 Employer expenses 361.05 125.41 3 Employer contribution 344.46 (117.41) Net assets | (liability) at the end of the year 722.10 16.59 Actuarial Assumptions Particulars Gratuity funded Gratuity funded 1 Discount rates 7.50% 7.50% 2 Expected rate of return on plan asset 8.00% 8.00% 3 Expected rate of salary increase 5.00% 5.00% 4 Mortality post- retirement LIC (1994-96) LIC (1994-96) Major category of plan asset as a percentage of total plan Particulars Gratuity funded Gratuity funded 1 Unit linked insurance plan of various private insurance companies approved by IRDA 94% 94% 2 In approved government securities 6% 6% Net asset | (liability) recognised in the Balance Sheet as at March 31, 2009 Particulars Gratuity funded Gratuity funded 1 Present value of defined benefit obligation 2,616.32 2,441.11 2 Fair value of plan assets 2,616.32 2,494.11 3 Funded status (surplus | (deficits)) (35.25) 96.17 Net assets | (liability) (35.25) 149.17 Particulars Gratuity funded Gratuity funded Actual return on plan assets 3.90 255.18 79