ICICI Bank 2016 Annual Report Download - page 235
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Annual Report 2015-2016 233
Schedules
forming part of the Consolidated Accounts (Contd.)
Consolidated Financial Statements
Estimated rate of return on plan assets is based on our expectation of the average long-term rate of return on
investments of the Fund during the estimated term of the obligations.
Experience adjustment
` in million
Particulars
Year ended
March 31,
2016
Year ended
March 31,
2015
Year ended
March 31,
2014
Year ended
March 31,
2013
Year ended
March 31,
2012
Plan assets 13,191.6 10,103.4 9,018.8 9,526.8 9,379.5
Dened benet obligations (14,191.6) (12,999.9) (10,209.9) (10,392.5) (9,602.7)
Amount not recognised as an asset (limit in para
59(b) of AS 15 on ‘employee benets’) –––––
Surplus/(decit) (1,000.0) (2,896.5) (1,191.1) (865.7) (223.2)
Experience adjustment on plan assets (4.1) 104.7 (29.1) 102.3 51.7
Experience adjustment on plan liabilities 1,503.4 1,271.2 2,549.6 1,525.2 2,692.3
Gratuity
The following table sets forth, for the periods indicated, movement of the present value of the dened benet
obligation, fair value of plan assets and other details for gratuity benets of the Group.
` in million
Particulars Year ended
March 31, 2016
Year ended
March 31, 2015
Dened benet obligation liability
Opening obligations 8,470.2 7,252.6
Add: Adjustment for exchange uctuation on opening obligation 4.4 3.1
Adjusted opening obligations 8,474.6 7,255.7
Service cost 834.9 716.1
Interest cost 677.5 662.8
Actuarial (gain)/loss 221.0 643.5
Past service cost ––
Obligations transferred from/to other companies 8.7 (15.6)
Benets paid (826.9) (792.3)
Obligations at the end of year 9,389.8 8,470.2
Opening plan assets, at fair value 7,862.7 6,744.3
Expected return on plan assets 597.1 518.6
Actuarial gain/(loss) (398.1) 699.4
Contributions 1,118.1 708.3
Assets transfer from/to other companies 8.7 (15.6)
Benets paid (826.9) (792.3)
Closing plan assets, at fair value 8,361.6 7,862.7
Fair value of plan assets at the end of the year 8,361.6 7,862.7
Present value of the dened benet obligations at the end of the year (9,389.8) (8,470.2)
Unrecognised past service cost ––
Amount not recognised as an asset (limit in para 59(b) of AS 15 on ‘employee
benets’) ––
Asset/(liability) (1,028.2) (607.5)