Corporate Overview Statutory Reports Financial Statements 241 Note 30.6 Employee benefit obligations (continued) (` cr) Particulars As at March 31, 2024 As at March 31, 2023 i) Defined benefit obligation 11.74 12.45 ii) Fund 12.24 12.48 Net assets | (liabilities) 0.50 0.03 iii) Charge to the Consolidated Statement of Profit and Loss during the year (included in Note 26) 0.23 0.24 The assumptions used in determining the present value of obligation of the interest rate guarantee under deterministic approach are: Particulars 2023-24 2022-23 i) Mortality rate Indian assured lives mortality 2012-14 (Urban) Indian assured lives mortality 2012-14 (Urban) ii) Withdrawal rate 5% p.a. for all age groups 5% p.a. for all age groups iii) Rate of discount 7.17% 7.35% iv) Expected rate of interest 8.25% 8.15% v) Retirement age 60 years 60 years vi) Guaranteed rate of interest 8.25% 8.15% b) Defined contribution plans Provident and other funds Amount of ` 20.65 cr (March 31, 2023: ` 18.51 cr from the Pradhan Mantri Rojgar Protsahan Yojana) is recognised as an expense and included in Note 26 ‘Contribution to provident and other funds’. Compensated absences Amount of ` 4.45 cr (March 31, 2023: ` 4.50 cr) is recognised as expense and included in Note 26 ‘Salaries, wages and bonus’. Note 30.7 Fair value measurements Financial instruments by category (` cr) Particulars As at March 31, 2024 As at March 31, 2023 FVTPL FVTOCI Amortised cost FVTPL FVTOCI Amortised cost Financial assets Investments: Equity instruments1 - 808.41 - - 535.86 - Mutual funds 426.40 - - 189.57 - - Government securities - - 0.01 - - 0.01 Bonds 94.35 - - 112.74 - - Alternate investment fund 13.32 - - - - - Trade receivables - - 927.04 - - 844.61 Loans - - 0.26 - - 0.13 Security deposits for utilities and premises - - 6.06 - - 4.30 Interest receivable - - - - - 0.04
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