Arohan Financial Services Limited | Annual Report 2021-22

Financials | 187 Annual Report | 2021-2022 Arohan Financial Services Limited Summary of significant accounting policies and other explanatory information for the year ended 31 March, 2022 (Contd.) (All amounts in ` lakhs unless otherwise stated) Note 37: Employee benefits (Contd.) B) Defined benefit plans (Contd.) (i) Amount recognised in the balance sheet is as under: Particulars As at 31 March 2022 As at 31 March 2021 Present value of obligation 168.73 - Net obligation recognised in balance sheet as provision 168.73 - (ii) Amount recognised in the statement of profit and loss is as under: Particulars Year ended 31 March 2022 Year ended 31 March 2021 Current service cost 18.13 - Past service cost 145.45 - Net interest on net defined benefit liability/ (asset) 7.02 - Immediate recognition of (gains)/ losses 5.23 - Payment made during the year (7.10) - Net impact on profit (before tax) 168.73 - (vi) Actuarial assumptions Particulars Year ended 31 March 2022 Year ended 31 March 2021 Discounting rate 7.00% - Future salary increase 8.00% - Retirement age (years) - - Withdrawal rate upto 5 years of service 52% - More than 5 years of service 1% - Weighted average duration (years) 10 - (iii) Movement in the present value of defined benefit obligation recognised in the balance sheet is as under: Particulars As at 31 March 2022 As at 31 March 2021 Present value of defined benefit obligation as at the beginning of the year - - Current service cost 163.58 - Interest cost 7.02 - Benefits paid (7.10) - Actuarial loss/(gain) on obligation Actuarial (gain)/loss on arising from change in financial assumption 5.23 - Actuarial loss on arising from experience adjustment - - Present value of defined benefit obligation as at the end of the year 168.73 -