Page 323 - Tata_Chemicals_yearly-reports-2021-22

01 INTEGRATED 73 STATUTORY 178 FINANCIAL
REPORTS
STATEMENTS
REPORT
Consolidated

Impact on defined benefit obligation due to change in assumptions as at March 31, 2021 ` in crore
As at March 31, 2021
TCL Rallis USA UK
Increase Decrease Increase Decrease Increase Decrease Increase Decrease
Discount Rate
0.25% change - - - - - - (124.64) 134.60
0.5% change (12.53) 13.90 - - (141.25) 165.60 - -
1% change - - (3.89) 4.62 - - - -
Compensation rate
0.5% change 3.04 (2.87) - - 32.85 (40.52) - -
1% change - - 3.14 (2.78) - - - -
Pension rate
1% change 4.38 (3.83) - - - - - -
Healthcare costs
1% change 15.32 (12.29) - - - - - -
The sensitivity analysis above has been determined based on reasonably possible changes of the respective key assumptions occurring
at the end of the reporting period, while holding all other assumptions constant.
(viii) Maturity profile of the defined benefit obligation as at March 31, 2022 is as follows: ` in crore
As at March 31, 2022
Particulars (expected payments)
India US UK
Within the next 12 months (next annual reporting period) 31.07 108.05 117.32
Later than 1 year and not later than 5 years 89.58 453.10 499.02
6 years and above 576.73 589.26 696.41
Weighted average duration of the payments (in no. of years) 6-16 years 13-15 years 14-16 years

Maturity profile of the defined benefit obligation as at March 31, 2021 is as follows: ` in crore
As at March 31, 2021
Particulars (expected payments)
India US UK
Within the next 12 months (next annual reporting period) 28.77 103.86 118.51
Later than 1 year and not later than 5 years 88.89 446.50 503.29
6 years and above 594.44 596.90 700.39
Weighted average duration of the payments (in no. of years) 6-17 years 13-15 years 15-16 years

(d) Provident Fund
The Company and its domestic subsidiaries operate Provident Fund Schemes and the contributions are made to the recognised
funds maintained. The Company and its domestic subsidiaries are required to offer a defined benefit interest rate guarantee on
provident fund balances of employees. The interest rate guarantee is payable to the employees for the year when the exempt fund
declares a return on provident fund investments which is less than the rate declared by the Regional Provident Fund Commissioner
(‘RPFC’) on the provident fund corpus for their own subscribers. The Actuary has provided a valuation for provident fund liabilities
on the basis of guidance issued by Actuarial Society of India and based on the below provided assumptions, shortfall between plan
assets as the end of the year and the present value of funded obligation has been recognised in the Consolidated Balance Sheet and
Other Comprehensive Income.

The details of fund and plan assets position are given below: ` in crore
TCL RALLIS
Particulars As at As at As at As at
March 31, 2022 March 31, 2021 March 31, 2022 March 31, 2021
Plan assets at the end of the year 349.38 328.00 116.75 104.07
Less: Present value of funded obligation 335.47 330.35 113.87 102.15
Amount recognised in the Consolidated Balance Sheet - (2.35) - -

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