Schedules forming part of the Financial ... - Thomas Cook India
Schedules forming part of the Financial ... - Thomas Cook India
Schedules forming part of the Financial ... - Thomas Cook India
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<strong>Thomas</strong> <strong>Cook</strong> (<strong>India</strong>) Limited<br />
<strong>Schedules</strong> <strong>forming</strong> <strong>part</strong> <strong>of</strong> <strong>the</strong> <strong>Financial</strong> Statements<br />
for <strong>the</strong> year ended 31st December, 2011<br />
SCHEDULE “Q” : (Contd.)<br />
(k) Employee Benefits<br />
The disclosures as required as per <strong>the</strong> revised AS 15 are as under:<br />
a) Charge to <strong>the</strong> Pr<strong>of</strong>it and Loss Account towards Contribution to Provident and O<strong>the</strong>r Funds (including Acturial Loss on Provident Fund<br />
<strong>of</strong> ` 2,966,256) amounts to ` 58,454,195 (Previous Year ` 48,390,716).<br />
b) The disclosures in respect <strong>of</strong> gratuity, a defined benefit scheme (based on Actuarial Valuation) are as follows -<br />
This does not include gratuity liability <strong>of</strong> ` 629,138 (Previous Year ` 469,356) and charge <strong>of</strong> ` 176,040 (Previous Year ` 88,139) in<br />
respect <strong>of</strong> Sri Lanka branch.<br />
(i) The Following table sets forth <strong>the</strong> funded status <strong>of</strong> gratuity benefit plan, during <strong>the</strong> year ended 31st December 2011:-<br />
Year ended<br />
Year ended<br />
31st December, 2011 31st December, 2010<br />
Rupees Rupees<br />
Present Value <strong>of</strong> Funded Obligations 76,862,214 68,466,008<br />
Fair Value <strong>of</strong> Plan Assets (66,826,937) (54,872,181)<br />
Present Value <strong>of</strong> Unfunded Obligations - -<br />
Unrecognised Past Service Cost - -<br />
Amount not Recognised as an Asset - -<br />
Net Liability<br />
Amounts in Balance Sheet<br />
10,035,277 13,593,827<br />
Liability 10,035,277 13,593,827<br />
Assets - -<br />
Net Liability 10,035,277 13,593,827<br />
(ii) The amount recognised in <strong>the</strong> statement <strong>of</strong> pr<strong>of</strong>it and loss are as follows:-<br />
Current Service Cost 10,041,967 9,513,760<br />
Interest Cost 5,934,621 5,483,229<br />
Expected return on Plan Assets (4,541,022) (3,639,816)<br />
Net Actuarial (Gains) / Losses Recognised in <strong>the</strong> year (250,102) (4,061,349)<br />
Past Service Cost - -<br />
Losses / (Gains) on Curtailments and Settlements - -<br />
Losses / (Gains) on Acquisition and Divestiture - -<br />
Total Expense 11,185,464 7,295,824<br />
Actual Return on Plan Assets 6,319,099 4,446,382<br />
(iii) Changes in <strong>the</strong> present value <strong>of</strong> <strong>the</strong> defined benefit obligation:-<br />
Changes in Defined Benefit Obligation (DBO) during <strong>the</strong> year<br />
Defined Benefit Obligation at beginning <strong>of</strong> year 68,466,008 64,735,159<br />
Current Service Cost 10,041,967 9,513,760<br />
Interest Cost 5,934,621 5,483,229<br />
Actuarial (Gain) / Losses 1,527,975 (3,254,783)<br />
Past Service Cost - -<br />
Actuarial Losses / (Gain) due to Curtailment - -<br />
Liabilities Extinguished on Settlement - -<br />
Liabilities Extinguished on Acquisition / (Settled on Divestiture) - -<br />
Exchange Difference on Foreign Plans - -<br />
Benefits Paid (9,108,357) (8,011,357)<br />
Defined Benefit Obligation at year end 76,862,214 68,466,008<br />
(iv) Change in Fair Value <strong>of</strong> Plan Assets<br />
Fair Value <strong>of</strong> Plan Assets beginning <strong>of</strong> year 54,872,181 45,132,049<br />
Expected Return on Plan Assets 4,541,022 3,639,816<br />
Actuarial Losses / (Gain) 1,778,077 806,566<br />
Assets Distributed on Settlements - -<br />
Contribution by Employer 14,744,014 13,305,107<br />
Assets Acquired on Acquisition / (Distributed on Divestiture) - -<br />
Exchange Difference on Foreign Plans - -<br />
Benefits Paid (9,108,357) (8,011,357)<br />
Fair Value <strong>of</strong> Plan Assets at year end 66,826,937 54,872,181<br />
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