Page 158 - Kolte Patil AR 2019-20

Notes forming part of the standalone financial statements

NOTE 35 - EMPLOYEE BENEFITS (Contd.)
iii. Changes in the fair value of plan assets during the year representing reconciliation of opening and closing balances thereof are
as follows:
(H in Lakhs)
Year ended Year ended
Particulars
March 31, 2020 March 31, 2019
Fair value of plan assets at the beginning of the year 250 222
Interest income 16 18
Contributions from the employer 16 60
Re-measurement gain / (loss) :
Return on plan assets, excluding amount recognized in Interest Income - 1 -
Gain / (Loss)
Mortality charges & taxes (5) (6)
Benefits paid (58) (44)
Transfer In/(Out) 3 -
Amount paid on settlement - -
Fair value of Plan assets as on the end of the year 223 250
Actual returns on plan assets 20 17
iv. Analysis of Defined Benefit Obligations
(H in Lakhs)
As at As at
Particulars
March 31, 2020 March 31, 2019
Defined benefit obligations as at 31st March (780) (726)
Fair value of plan assets as at 31st March 223 249
Net asset/(liability) recognised in Balance sheet (557) (477)

v. In respect of funded benefits with respect to gratuity, the fair value of plan assets represents the amounts invested through “Insurer
Managed Funds”
vi. Expenses recognized in the statement of profit and loss
(H in Lakhs)
As at As at
Particulars
March 31, 2020 March 31, 2019
Current service cost 111 107
Past service cost - -
Net interest expense 32 30
Transfer In/(Out) (30) -
Components of defined benefit costs recognised in profit or loss 112 137
vii. Amount recognised in statement of Other Comprehensive Income
(H in Lakhs)
As at As at
Particulars
March 31, 2020 March 31, 2019
Actuarial (gain)/loss
(i) arising from changes in demographic assumption (4) (36)
(ii) arising from changes in financial assumption (13) 47
(iii) arising from changes in experience assumption (3) (28)
Total amount recognised in the statement of other comprehensive income (20) (17)

156 | Kolte-Patil Developers Limited