Arohan Financial Services Limited | Annual Report 2022-23

| 160 Annual Report | 2022-2023 Financial 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 2023 As at 31 March 2022 Present value of obligation 35.31 168.73 Net obligation recognised in balance sheet as provision 35.31 168.73 (ii) Amount recognised in the statement of profit and loss is as under: Particulars Year ended 31 March 2023 Year ended 31 March 2022 Current service cost - 18.13 Past service cost - 145.45 Settlement credit (99.79) - Net interest on net defined benefit liability/ (asset) 2.92 7.02 Immediate recognition of (gains)/ losses (0.95) 5.23 Payment made during the year (35.60) (7.10) Net impact on profit (before tax) (133.42) 168.73 (iii) Movement in the present value of defined benefit obligation recognised in the balance sheet is as under: Particulars As at 31 March 2023 As at 31 March 2022 Present value of defined benefit obligation as at the beginning of the year 168.73 - Current service cost (99.79) 163.58 Interest cost 2.92 7.02 Benefits paid (35.60) (7.10) Actuarial loss/(gain) on obligation Actuarial (gain)/loss on arising from change in financial assumption (0.02) 5.23 Actuarial loss on arising from experience adjustment (0.93) - Present value of defined benefit obligation as at the end of the year 35.31 168.73 (iv) Actuarial assumptions Particulars Year ended 31 March 2023 Year ended 31 March 2022 Discounting rate 7.20% 7.00% Future salary increase Not applicable 8.00% Retirement age (years) - - Withdrawal rate upto 5 years of service 52% 52% More than 5 years of service 1% 1% Weighted average duration (years) 1 10 Arohan Financial Services Limited Summary of significant accounting policies and other explanatory information for the year ended 31 March 2023 (Contd.) (All amounts in ` lakhs unless otherwise stated)