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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%