annual-report-FY2020

340 COMPANY OVERVIEW BOARD’S REPORT MANAGEMENT DISCUSSION AND ANALYSIS CORPORATE GOVERNANCE BUSINESS RESPONSIBILITY REPORT STANDALONE ACCOUNTS CONSOLIDATED ACCOUNTS 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 5 Net defined benefit obligation Defined benefit obligation........................ 1,211.25 1,170.95 2,570.85 2,286.95 35.31 47.13 83.50 65.19 Fair value of plan assets .............................. 1,082.77 926.75 — — — — — — Surplus/(Deficit).............. (128.48) (244.20) (2,570.85) (2,286.95) (35.31) (47.13) (83.50) (65.19) Current portion of the above............................... (10.22) (8.55) (12.78) (10.61) (1.37) (1.63) (5.70) (3.18) Non current portion of the above........................ (118.26) (235.65) (2,558.07) (2,276.34) (33.94) (45.50) (77.80) (62.01) Rupees crores Assumptions 2020 2019 6 Actuarial Assumptions and sensitivity a Actuarial assumptions Discount rate (%). ........................................................................................................................................ 0.36-6.90 0.25 - 8.00 Attrition rate (%). ........................................................................................................................................ 1.57-52.00 1.50 - 48.91 Cost inflation (%)......................................................................................................................................... 7.00 - 9.00 7.00 - 10.00 Cost inflation includes an estimate of medical inflation and future salary increases taking into account of inflation, seniority, promotion and other relevant factors such as supply and demand in the employment market. b Quantitative sensitivity analysis for impact of significant assumptions on defined benefit obligation are as below: Assumptions One percentage point increase in discount rate....................................................................................... (372.33) (354.35) One percentage point decrease in discount rate ..................................................................................... 408.93 387.11 One percentage point increase in salary growth rate.............................................................................. 366.68 350.51 One percentage point decrease in salary growth rate............................................................................. (327.77) (315.15) One percentage point increase in attrition rate....................................................................................... (67.68) (57.90) One percentage point decrease in attrition rate...................................................................................... 59.20 50.06 One percentage point increase in medical inflation rate ....................................................................... 5.13 6.62 One percentage point decrease in medical inflation rate ...................................................................... (4.24) (5.51) 7 Maturity profile of defined benefit obligation Time periods Within 1 year...................................................................................................................................................... 241.13 222.51 2 - 5 year............................................................................................................................................................. 979.75 869.43 Between 6 and 9 years...................................................................................................................................... 1,262.36 1,131.56 10 years and above............................................................................................................................................ 2,962.36 3,276.53 31. Employee Benefits (contd.)