ICICI Bank 2013 Annual Report Download - page 164

F86
forming part of the Consolidated Accounts (Contd.)
schedules
Experience adjustment
` in million
Particulars
Year ended
March 31,
2013
Year ended
March 31,
2012
Year ended
March 31,
2011
Year ended
March 31,
2010
Year ended
March 31,
2009
Plan assets .............................................................. 6,394.9 5,724.3 5,855.8 3,073.2 2,521.7
Defined benefit obligations .................................... 6,887.3 6,257.9 5,943.4 3,089.6 2,813.8
Amount not recognised as an asset (limit in para
59(b) of AS 15 on ‘employee benefits’) ..................... 0.5 — — 47.9 7.9
Surplus/(deficit) ...................................................... —(533.6) (87.7) (64.3) (300.0)
Experience adjustment on plan assets .................. 51.0 23.1 (90.5) 194.8 (149.3)
Experience adjustment on plan liabilities .............. 216.0 119.4 (72.8) (21.2) (22.3)
The estimates of future salary increases, considered in actuarial valuation, take into consideration inflation, seniority,
promotion and other relevant factors.
Provident Fund (PF)
As there is no liability towards interest rate guarantee on exempt provident fund on the basis of actuarial valuation,
Group has made a provision for the year ended March 31, 2013 amounting to Nil (March 31, 2012: ` 17.8 million).
` in million
Particulars Year ended
March 31, 2013
Opening obligations ..................................................................................................................................... 14,285.9
Service cost .................................................................................................................................................. 931.3
Interest cost .................................................................................................................................................. 1,180.3
Actuarial (gain)/loss ...................................................................................................................................... 24.2
Employees contribution ............................................................................................................................... 1,626.0
Liabilities assumed on acquisition ............................................................................................................... 62.3
Benefits paid ................................................................................................................................................. (1,973.2)
Obligations at the end of the year .............................................................................................................. 16,136.8
Opening plan assets ..................................................................................................................................... 14,267.4
Expected return on plan assets ................................................................................................................... 1,205.7
Actuarial gain/(loss) ...................................................................................................................................... 17.3
Employer contributions during the year ..................................................................................................... 931.3
Employees contributions during the year ................................................................................................... 1,626.0
Assets acquired on Acquisition/(Distributed on Divestiture) ..................................................................... 62.3
Benefits paid ................................................................................................................................................. (1,973.2)
Closing plan assets ....................................................................................................................................... 16,136.8
Plan assets at the end of the year ................................................................................................................ 16,136.8
Present value of the defined benefit obligations at the end of the year .................................................... (16,136.8)
Asset/(liability).............................................................................................................................................. —
Cost for the year
Service cost .................................................................................................................................................. 931.3
Interest cost .................................................................................................................................................. 1,180.3
Expected return on plan assets ................................................................................................................... (1,205.7)
Actuarial (gain)/loss ...................................................................................................................................... 6.8
Net cost ......................................................................................................................................................... 912.7
Investment details of plan assets
Insurer Managed Funds ............................................................................................................................... 0.00%
Government of India Securities ................................................................................................................... 40.14%
Corporate Bonds .......................................................................................................................................... 48.77%
Special Deposit Scheme .............................................................................................................................. 3.31%
Others ........................................................................................................................................................... 7.78%