Download the Annual Report for 2010-11. - kiocl limited

Details of measurement of present value of obligation in repect of Retirement Benefits foremployees as per actuarial valuation are as follows: (Refer Note No. 8)TYPE OF PLANGRATUITYPERIOD OF DISCLOSURE 01-04-2010 TO 31-03-2011I. PRINCIPAL ACTUARIAL ASSUMPTIONS 31-03-2010 31-03-2011[Expressed as weighted averages]Discount Rate 8.40% 8.20%Salary escalation rate 5.00% 5.00%Attrition rate 0.50% 0.50%Expected rate of return on Plan Assets 7.00% 8.00%In the following tables,all amounts are in Rupees,unless otherwise statedII. CHANGES IN THE PRESENT VALUE OFTHE OBLIGATION (PVO) - RECONCILIATIONOF OPENING AND CLOSING BALANCES:PVO as at the beginning of the period 4,025.71Interest Cost 333.53Current service cost 118.35Past service cost - (non vested benefits) -Past service cost - (vested benefits) -Benefits paid (110.25)Actuarial loss/(gain) on obligation (balancing figure) 337.84PVO as at the end of the period 4,705.18III. CHANGES IN THE FAIR VALUE OF PLAN ASSETS -RECONCILIATION OF OPENING ANDCLOSING BALANCES:Fair value of plan assets as at the beginning of the period 3.73Expected return on plan assets 7.26Contributions 100.00Benefits paid (110.26)Actuarial gain/(loss) on plan assets [balancing figure] 1.24Fair value of plan assets as at the end of the period 1.97IV. ACTUAL RETURN ON PLAN ASSETSExpected return on plan assets 7.26Actuarial gain (loss) on plan assets 1.24Actual return on plan assets 8.50V. ACTUARIAL GAIN / LOSS RECOGNIZEDActurial gain / (loss) for the period - Obligation (337.84)Actuarial gain / (loss) for the period- Plan Assets 1.24Total (gain) / loss for the period 336.60Actuarial (gain) / loss recognized in the period 336.60Unrecognized actuarial (gain) / loss at the end of the year -105