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Moneycontrol.com India | Notes to Account > Finance - Investments > Notes to Account from TCI Finance - BSE: 501242, NSE: TCIFINANCE
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TCI Finance

BSE: 501242|NSE: TCIFINANCE|ISIN: INE911B01018|SECTOR: Finance - Investments
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Notes to Accounts Year End : Mar '17

1 Employee Benefit Plans

a. Defined contribution plans

The Company makes Provident Fund and Superannuation 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 recognized '' 197,155/- (As at March 31, 2016 '' 195,282/-) for Provident Fund contributions and '' 108,000/- (As at March 31, 2016 '' 108,000/-) for Superannuation 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

Consequent to the application of Accounting Standard (AS) 15 “Employee Benefits” all employee benefits have been determined in accordance with the Standard. The gratuity liability as per Actuarial Valuation has been deposited with the group gratuity Fund before March 31, 2017.

2 Inter-Company loans/deposits given by the Company are on the basis that one of the main objects of the Company is to lend and is categorized as Loan Company. Accordingly, the Company has been advised that Section 186 of the Companies Act, 2013 is not applicable to the Company.

3 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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