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Moneycontrol.com India | Notes to Account > Pharmaceuticals > Notes to Account from Jagsonpal Pharmaceuticals - BSE: 507789, NSE: JAGSNPHARM
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Jagsonpal Pharmaceuticals
BSE: 507789|NSE: JAGSNPHARM|ISIN: INE048B01027|SECTOR: Pharmaceuticals
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Notes to Accounts Year End : Mar '12
Employee benefit plans
 
 (a) Defined contribution plans
 
 The Company makes Provident Fund and Pension Fund contributions to
 defined contribution plans for qualifying employees. Under the Schemes,
 the Company is required to contribute a specified percentage of the
 payroll costs to fund the benefits. The Company recognised Till .00
 lakhs (Year ended 31 March, 2011 Rs. 78.11 lakhs) for Provident Fund and
 pension fund contributions in the Statement of Profit and Loss. The
 contributions payable to these plans by the Company are at rates
 specified in the rules of the schemes.
 
 (b) Defined benefit plans
 
 The Company offers the following employee benefit schemes to its
 employees: The Company has taken a Group Gratuity policy of LIC of
 India.
 
 i.  Gratuity
 
 The following table sets out the funded status of the defined benefit
 schemes and the amount recognised in the financial statements:
 
 Previous year''s figures
 
 The Revised Schedule VI has become effective from 1 April, 2011 for the
 preparation of financial statements. This has significantly impacted
 the disclosure and presentation made in the financial statements.
 Previous year''s figures have been regrouped / reclassified wherever
 necessary to correspond with the current year''s classification /
 disclosure.
Source : Dion Global Solutions Limited
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