203
As at / for the year ended on March 31,
2014
2013
2012
2011
2010
i
Components of employer expense
Current service cost
38.75
37.24
21.18
20.32
17.54
Interest cost
5.64
9.30
10.26
10.28
8.85
Past service cost
-
(6.17)
-
-
-
Expected return on plan assets
(0.04)
-
-
-
-
Actuarial losses / (gains)
(7.14)
(62.40)
(8.39)
(23.38)
19.75
Total expense recognised in the Statement of Profit and Loss
in Note 25, page 196 :
37.21
(22.03)
23.05
7.22
46.14
ii
Actual Contribution and Benefit Payments
Actual benefit payments
6.83
87.97
14.64
8.96
16.26
Actual contributions
135.03
87.97
14.64
8.96
16.26
iii
Net liability recognised in Balance Sheet
Present value of Defined Benefit Obligation
219.54
164.44
252.58
220.62
217.23
Fair value of plan assets
129.43
-
-
-
-
Net liability recognised in Balance Sheet
(90.11)
(164.44)
(252.58)
(220.62)
(217.23)
Experience adjustment on plan liabilities
6.54
79.62
19.01
5.56
(20.09)
Experience adjustment on plan assets
-
-
-
-
-
iv Change in Defined Benefit Obligations
Present Value of DBO at the beginning of the year
164.44
252.58
220.62
217.23
174.83
Current service cost
38.75
37.24
21.18
20.32
17.54
Interest cost
5.64
9.30
10.26
10.28
8.85
Past service cost
-
(6.17)
-
-
-
Actuarial losses
(7.14)
(62.40)
(8.39)
(23.38)
19.75
Benefits paid
(6.83)
(87.97)
(14.64)
(8.96)
(16.26)
Exchange fluctuation
24.68
21.86
23.55
5.13
12.52
Present Value of DBO at the end of the year
219.54
164.44
252.58
220.62
217.23
v Change in fair value of assets
Plan assets at the beginning of the year
-
-
-
-
-
Actual return on plan assets
0.04
-
-
-
-
Actual Company contributions
135.03
87.97
14.64
8.96
16.26
Benefits paid
(6.83)
(87.97)
(14.64)
(8.96)
(16.26)
Exchange fluctuation
1.19
-
-
-
-
Plan assets at the end of the year
129.43
-
-
-
-
vi
Actuarial assumptions
Discount rate
3.60%
3.07%
4.03%
4.53%
4.84%
Expected return on plan assets
N/A
N/A
N/A
N/A
N/A
Medical cost inflation
N/A
N/A
N/A
N/A
N/A
33. (b) Details of Severance Indemnity plan applicable to Tata Daewoo Commercial Vehicle Co. Ltd. and Tata Daewoo Commercial Vehicle Sales and Distribution
Co. Ltd., Korea.
(
`
in crores)
The assumption 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.
NOTES FORMING PART OF CONSOLIDATED FINANCIAL STATEMENTS
Independent Auditors’Report
Balance Sheet
(176-206)
Statement of Profit and Loss
Cash Flow Statement
Notes to Accounts
