164 Annual Report 2023-24 Atul Ltd Note 29.6 Employee benefit obligations (continued) (` cr) Particulars Present value of obligation Fair value of plan assets Net amount As at March 31, 2023 61.01 (61.01) - Current service cost 4.17 - 4.17 Interest expense | (income) 4.48 (4.48) - Total amount recognised in profit and loss 8.65 (4.48) 4.17 Remeasurement (Gain) | loss from changes in demographic assumptions (0.35) - (0.35) (Gain) from change in financial assumptions 1.39 (0.05) 1.34 Experience loss (1.24) - (1.24) Total amount recognised in other comprehensive income (0.20) (0.05) (0.25) Employer contributions - (3.92) (3.92) Benefit payments (5.98) 5.98 - Liability transferred (out ) | in (0.16) 0.16 - As at March 31, 2024 63.32 (63.32) - The net liability disclosed above relates to the following funded and unfunded plans: (` cr) Particulars As at March 31, 2024 As at March 31, 2023 Present value of funded obligations 63.32 61.01 Fair value of plan assets (63.32) (61.01) Deficit of gratuity plan - - 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 7.17% 7.35% Attrition rate 14.00% 13.00% Rate of return on plan assets 7.17% 7.35% Salary escalation rate 10.36% 9.84%
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