Page 179 - Tata_Chemicals_yearly-reports-2017-18

8 Maturity profile of defined benefit obligation is as follows:
` in crore
Particulars As at 31 March, 2018 As at 31 March, 2017
Gratuity Post Directors’ Family Gratuity Post Directors’ Family
retirement retirement benefit retirement retirement benefit
medical obligations scheme medical obligations scheme
benefits benefits
Within the next 12 months
(next annual reporting period) 14.27 1.42 2.63 1.25 10.51 1.29 2.52 1.30
Later than 1 year and not later
than 5 years 34.93 7.78 9.03 5.72 36.01 7.11 8.74 6.62
Later than 5 year and not later
than 9 years 30.07 11.95 9.75 5.23 35.76 11.44 9.56 6.80
10 years and above 82.71 400.15 128.44 13.12 103.71 481.24 126.21 16.58 Integrated Report
Total expected payments 161.98 421.30 149.84 25.33 185.99 501.08 147.03 31.30
Weighted average duration
to the payment of cash flows
(in Year) 6.83 17.39 12.96 6.31 7.85 19.89 14.16 6.90
9 The details of the Company’s post-retirement and other benefit plans for its employees given above are certified by the actuary
and relied upon by the Auditors.
10 Average longevity at retirement age for current beneficiaries of the plan (years)*

Particulars As at As at
31 March, 2018 31 March, 2017
Males 17.51 17.51
Females 22.02 22.02
* Based on India’s standard mortality table with modification to reflect expected changes in mortality. Statutory Reports
(c) Provident Fund
The Company operates Provident Fund Schemes and the contributions are made to recognised funds maintained by the Company.
The Company is 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 there is no material shortfall as on 31 March, 2018.

The details of fund and plan assets position are given below:
` in crore
Particulars As at
31 March, 2018
Plan assets at the end of the year 365.31 Financial Statements
Present value of funded obligation 365.31
Amount recognised in the Balance Sheet -
Assumptions used in determining present value of obligation of interest rate guarantee under a deterministic
approach:
Guaranteed rate of return 8.55%
Discount rate for remaining term to maturity of investments 7.65%
Discount rate 7.75%
Expected rate of return on investments 8.38%

Standalone Financial Statements 177