Page 221 - Kolte Patil AR 2019-20

Year ended March 31, 2020
(1)
32
Year ended March 31, 2020
5.30 to 6.90%
5.00% to 9.00%
6.70% to 7.80%
8.29
IALM(2012-14) ult
3% to 27%
Year ended March 31, 2020
306
231
196
168
159
105
548
Notes forming part of the Consolidated Financial Statements
viii. Actual Contribution and benefit payments for the year
Particulars
Actual benefit paid directly by the group Actual contributions
ix. Principal Actuarial Assumptions for gratuity
Particulars
Discount Rate
Expected Rate of Increase in compensation levels
Expected Rate of Return on Plan Assets
Expected Average Remaining working lives of employees (Years) Mortality Rate
Withdrawal Rate
(H in Lakhs) Year ended
March 31, 2019
(8)
109 (H in Lakhs)
Year ended March 31, 2019
6.90 to 7.80%
5.00% to 11.00%
7.20% to 7.80%
9.76
IALM(2012-14) ult
3% to 40%
a. The discount rate is based upon the market yields available on Government bonds at the accounting date with a term that matches that of the liabilities.
b. Expected Rate of Return of Plan Assets: This is based on the expectation of the average long term rate of return expected on investments of the Fund during the estimated term of obligations.
c. Salary Escalation Rate: The estimates of future salary increases considered takes into account the inflation, seniority, promotion and other relevant factors.
d. Withdrawal Rate: It is the expected employee turnover rate and should be based on the company’s past attrition experience and future withdrawal expectations.
x. Disclosure related to indication of effect of the defined benefit plan on the entity’s future cash flows: Expected benefit payments for the year ending:
Particulars
(H in Lakhs) Year ended
March 31, 2019
31-Mar-21 196
31-Mar-22 160
31-Mar-23 157
31-Mar-24 138
31-Mar-25 -
31 March 2025 to 31 March 2029 -
31 March 2026 to 31 March 2030 562 Weighted average duration of defined benefit obligation: 4.12 Years (Previous Year: 4.21 Years)
Annual Report 2019-20 | 219