Page 319 - NHB AR 2020-21-3 complete- Print (1)
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b) The Principal Actuarial assumptions used as at the Balance Sheet date:
Defined Benefits Gratuity Leave Medical Pension
Encashment
Discount Rate 7.06 % p.a 7.06 % p.a. 7.06 % p.a. 7.06 % p.a.
Salary Escalation 10.00% p.a. NA 10.00% p.a.
Rate 10.00% p.a.
Mortality Rate
Indian Indian Indian Indian
Assured Lives Assured Lives Assured Lives Assured
Mortality Mortality Mortality Lives
(IALM) (IALM) (IALM) Mortality
(2012-14) (2012-14) (2012-14) (IALM)
(2012-14)
c) A reconciliation of opening and closing balances of present value of defined benefit
obligation and the effects during the period attributable to each of the following:
Change in benefit Gratuity Leave Medical Pension
obligations 82,872,790 Encashment** 13,965,490 521,198,806
Present Value of
Obligation at the - -
beginning of the year
9,747,942 -- -
Contribution Received 5,519,328
By Fund (Employees) -- 16,096,002
during the period (1st - - 930,102 34,711,840
July 2020 to 30th June 15,954,193 --
2021) (649,425) - (2,001,392) -
113,444,828 48,259,324
Current Service Cost
- (705,000) (26,061,395)
Interest cost - 12,189,200 594,204,577
Past Service cost
Actuarial (Gain)/Loss
on Obligations
Benefits paid
Present Value of
Obligation at the end of
the year
** As per paragraph 132 of the Accounting Standard 15 (revised) issued by Institute
of Chartered Accountants of India, no specific disclosures are required for other
Long Term Benefits.
Annual Report 2020-21 | 299
Defined Benefits Gratuity Leave Medical Pension
Encashment
Discount Rate 7.06 % p.a 7.06 % p.a. 7.06 % p.a. 7.06 % p.a.
Salary Escalation 10.00% p.a. NA 10.00% p.a.
Rate 10.00% p.a.
Mortality Rate
Indian Indian Indian Indian
Assured Lives Assured Lives Assured Lives Assured
Mortality Mortality Mortality Lives
(IALM) (IALM) (IALM) Mortality
(2012-14) (2012-14) (2012-14) (IALM)
(2012-14)
c) A reconciliation of opening and closing balances of present value of defined benefit
obligation and the effects during the period attributable to each of the following:
Change in benefit Gratuity Leave Medical Pension
obligations 82,872,790 Encashment** 13,965,490 521,198,806
Present Value of
Obligation at the - -
beginning of the year
9,747,942 -- -
Contribution Received 5,519,328
By Fund (Employees) -- 16,096,002
during the period (1st - - 930,102 34,711,840
July 2020 to 30th June 15,954,193 --
2021) (649,425) - (2,001,392) -
113,444,828 48,259,324
Current Service Cost
- (705,000) (26,061,395)
Interest cost - 12,189,200 594,204,577
Past Service cost
Actuarial (Gain)/Loss
on Obligations
Benefits paid
Present Value of
Obligation at the end of
the year
** As per paragraph 132 of the Accounting Standard 15 (revised) issued by Institute
of Chartered Accountants of India, no specific disclosures are required for other
Long Term Benefits.
Annual Report 2020-21 | 299
