Atul Ltd 2010-11

Atul Ltd | Annual Report 2010-11 Schedules forming part of the accounts SCHEDULE 16 NOTES FORMING PART OF THE ACCOUNTS (contd) 18 Employee benefits (contd) ( ` crores) Particulars 2010-11 Gratuity funded 2009-10 Gratuity funded 3 Expected return on plan assets (2.46) (2.21) 4 Employer contribution (receipt) 0.00 0.00 5 Actuarial losses | (gains) 0.53 0.84 Expenses recognised in Profit and Loss Account 1.83 2.07 Net assets | (liabilities) recognised in the Balance Sheet as at March 31, 2011 Particulars Gratuity funded Gratuity funded 1 Present value of defined benefit obligation 34.26 30.55 2 Fair value of plan assets 33.48 30.81 3 Funded status (surplus | (deficits)) 0.78 0.26 Net assets | (liabilities) 0.78 0.26 Reconciliation of net assets | (liabilities) recognised in the Balance Sheet as at March 31, 2011 Particulars Gratuity funded Gratuity funded 1 Net assets | (liabilities) at beginning of the year (2.14) (0.38) 2 Employer expenses 4.58 2.59 3 Employer contribution (1.65) (1.95) Net assets | (liabilities) at the end of the year 0.79 0.26 Particulars Gratuity funded Gratuity funded Actual return on plan assets 5.35 4.81 Actuarial assumptions Particulars Gratuity funded Gratuity funded 1 Discount rates 8.25% 8.25% 2 Expected rate of return on plan assets 8.00% 8.00% 3 Expected rate of salary increase 6.50% 6.50% 4 Mortality post-retirement LIC (1994-96) LIC (1994-96) Major category of plan assets as a percentage of total plan Particulars Gratuity funded Gratuity funded 1 Unit linked insurance plan of various private insurance companies approved by IRDA 90.95% 94.00% 2 In approved government securities 9.05% 6.00%