annual-report-FY2020

339 MAHINDRA & MAHINDRA LTD. INTEGRATED ANNUAL REPORT 2019-20 31. Employee Benefits (contd.) Rupees crores Funded Plan Unfunded Plans Gratuity Gratuity Post retirement medical benefits Post retirement housing allowance Particulars 2020 2019 2020 2019 2020 2019 2020 2019 – financial assumptions............ (6.87) 23.04 93.03 120.48 2.53 1.97 4.13 1.80 – experience adjustments............ (11.43) 3.90 (86.88) 10.31 (12.49) (3.88) (2.07) 3.41 b) Return on plan assets, excluding amount included in net interest expense/ (income)..................... 3.87 (4.07) — — — — — — Total amount recognised in other comprehensive income............................. (29.61) 23.55 10.38 149.85 (17.37) (1.80) 2.06 4.54 3 Changes in the defined benefit obligation Opening defined benefit obligation........................ 1,170.95 1,073.30 2,286.95 1,977.38 47.13 44.10 65.19 55.56 Add/(less) on account of business combination..... — — 1.46 — — — — — Current service cost........ 114.00 90.17 293.25 267.91 3.08 2.85 3.16 2.67 Past service cost.............. (10.91) — — — — — 12.52 — Interest expense............. 69.35 66.08 57.68 62.19 3.46 3.38 4.77 4.29 Remeasurements (gains)/ losses................................ (33.48) 27.62 10.38 149.85 (17.37) (1.80) 2.06 4.54 Benefits paid................... (110.75) (91.44) (143.43) (154.79) (0.99) (1.40) (4.20) (1.87) Foreign exchange translation difference.... 12.09 5.22 64.56 (15.59) — — — — Closing defined benefit obligation........................ 1,211.25 1,170.95 2,570.85 2,286.95 35.31 47.13 83.50 65.19 4 Changes in fair value of plan assets Opening fair value of plan assets....................... 926.75 794.42 — — — — — — Interest income............... 59.32 44.75 — — — — — — Return on plan assets excluding interest income............................. (3.87) 4.07 — — — — — — Contributions by employer......................... 191.72 170.88 — — 0.99 1.40 4.20 1.87 Benefits paid................... (110.75) (91.44) — — (0.99) (1.40) (4.20) (1.87) Foreign exchange translation difference.... 19.60 4.07 — — — — — — Closing fair value of plan assets....................... 1,082.77 926.75 — — — — — —