Atul Ltd 2015-16

121 Note 28.11 Employee benefits (continued) The assumptions used in determining the present value of obligation of the interest rate guarantee under deterministic approach are: Particulars 2015-16 2014-15 1 Mortality rate Indian Assured Lives Mortality (2006-08) Ultimate Indian Assured Lives Mortality (2006-08) Ultimate 2 Withdrawal rates 5% p.a. for all age groups 5% p.a. for all age groups 3 Rate of discount 7.80% 7.80% 4 Expected rate of interest 8.80% 7.99% 5 Retirement age 60 years 60 years 6 Guaranteed rate of interest 8.80% 8.75% ( ` cr) Expenses recognised for the year ended on March 31, 2016 (included in Note 25) As at March 31, 2016 As at March 31, 2015 1 Defined Benefit Obligation 11.39 10.14 2 Fund 11.50 10.40 3 Net Asset | (Liability) 0.11 0.26 4 Charge to the Statement of Profit and Loss during the year 0.15 0.23 d) The estimates of future salary increases, considered in actuarial valuation, take account of inflation, seniority, promotion and other relevant factors, such as supply and demand in the employment market. Mortality rates are obtained from the relevant data. Unfunded Schemes ( ` cr) Particulars Compensated absences March 31, 2016 March 31, 2015 1 Present value of unfunded obligations 22.58 21.38 2 Expense recognised in the Statement of Profit and Loss 3.39 3.23 3 Discount rate (per annum) 7.80% 7.80% 4 Salary escalation rate (per annum) 7.75% 7.75% Notes to the Financial Statements