A large portion of assets consists insurance funds. The Group also invests in corporate bonds and special deposit scheme. The plan asset mix is in compliance with the requirements of the respective local regulations. Expected contributions to post-employment benefit plans for the year ending March 31, 2026 are ` 7.63 cr. The weighted average duration of the defined benefit obligation is five years (2023-24: five years). The expected maturity analysis of gratuity is as follows: (` cr) Particulars Less than a year Between 1 - 2 years Between 2 - 5 years Over 5 years Total Expected defined benefit obligation (gratuity) As at March 31, 2025 12.89 7.73 30.57 55.01 106.20 As at March 31, 2024 16.71 9.75 27.32 37.63 91.41 Provident fund In case of certain employees, the provident fund contribution is made to a trust administered by the Group. The actuary has provided a valuation of provident fund liability based on the assumptions listed below and has determined that there is no shortfall as at March 31, 2025. (` cr) Particulars As at March 31, 2025 As at March 31, 2024 i) Defined benefit obligation 12.45 11.74 ii) Fund 12.50 12.24 Net assets | (liabilities) 0.05 0.50 iii) Charge to the Consolidated Statement of Profit and Loss during the year (included in Note 26) 0.23 0.23 The assumptions used in determining the present value of obligation of the interest rate guarantee under deterministic approach are: Particulars 2024-25 2023-24 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 6.71% 7.17% iv) Expected rate of interest 8.25% 8.25% v) Retirement age 60 years 60 years vi) Guaranteed rate of interest 8.25% 8.25% b) Defined contribution plans Provident and other funds Amount of ` 21.62 cr (March 31, 2024: ` 20.65 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 ` 8.22 cr (March 31, 2024: ` 4.45 cr) is recognised as expense and included in Note 26 ‘Salaries, wages and bonus’. Note 30.6 Employee benefit obligations (continued) 282 282 Integrated Annual Report 2024-25
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