A) Leave Entitlements

Leave entitlements are recognised as a liability, in the calendar year of rendering of service, as per the rules of the Company. As accumulated leave can be availed and/or encashed at any time during the tenure of employment. It is recognised as current provision.

B) Gratuity

Gratuity liability is a defined benefit obligation and is provided for on the basis of actual contribution made to LIC of India during the financial year. The scheme is maintained and administered by an insurer to which the trustees make periodic contributions.

C) Provident Fund Contributions

Provident fund contribution is made to Government Provident Fund Authority. Retirement Benefits in the form of provident fund contributions are charged to the Statement of Profit & Loss of the period when the contributions to the fund are due. There are no obligations other than the contribution payable to the fund.