167 Statutory Reports 24 - 109 Financial Statements 110 - 263 Corporate Overview 01 - 23 Note 28.6 Employee benefit obligations (continued) (` cr) Particulars Present value of obligation Fair value of plan assets Net amount As at March 31, 2020 48.72 (48.72) - Current service cost 3.03 - 3.03 Interest expense | (income) 3.04 (3.04) - Total amount recognised in profit and loss 6.07 (3.04) 3.03 Remeasurement Return on plan assets, excluding amount included in interest expense - (0.14) (0.14) Loss from change in financial assumptions (0.31) - (0.31) Experience (gain) 1.52 - 1.52 Total amount recognised in other comprehensive income 1.21 (0.14) 1.07 Employer contributions - (4.06) (4.06) Benefit payments (3.20) 3.20 - Liability transferred out (0.04) - (0.04) As at March 31, 2021 52.76 (52.76) - Current service cost 3.53 - 3.53 Interest expense | (income) 3.34 (3.34) - Total amount recognised in profit and loss 6.87 (3.34) 3.53 Remeasurement (Gain) from change in financial assumptions 3.83 0.05 3.83 Experience loss 2.87 - 2.87 Total amount recognised in other comprehensive income 6.70 0.05 6.70 Employer contributions - (9.98) (9.98) Benefit payments (5.04) 4.87 (0.17) Liability transferred out (0.13) - (0.13) As at March 31, 2022 61.16 (61.16) - The net liability disclosed above relates to the following funded and unfunded plans: (` cr) Particulars As at March 31, 2022 As at March 31, 2021 Present value of funded obligations 61.16 52.76 Fair value of plan assets (61.16) (52.76) Deficit of gratuity plan - - Significant estimates: Actuarial assumptions and sensitivity The significant actuarial assumptions were as follows: Particulars As at March 31, 2022 As at March 31, 2021 Discount rate 6.41% 6.33% Attrition rate 15.00% 8.00% Rate of return on plan assets 6.41% 6.33% Salary escalation rate 10.70% 7.62%
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