17th Annual Report 2011-12

AIRPORTS AUTHORITY OF INDIA

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MEMBERS REPORT 2011-2012

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PARTICULARS DEP RATE % AS ON 1.04.2011

GROSS BLOCK ADDITIONS INCLUDING TRANSFERS ADJ. DELETIONS INCLUDING TRANSFERS AS ON 31.03.2012

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5. Revenue
(i) Income from PSF other than Air India (erstwhile Indian Airlines) has been booked on the basis of passenger data furnished by them. In respect of Air India (erstwhile Indian Airlines), the same has been accounted for on the basis of details provided by them.

6. The required disclosure under AS 15(revised) is given as under:

i) Defined Contribution Plan: AAI pays fixed contribution to Provident Fund at predetermined rates to a separate trust, which invests the funds in permitted securities. The contribution to the fund for the period is recognized as expense and is charged to the P& L Account. Defined Benefit Plan: A) Leave: AAI provides for earned leave benefit and half pay leave to the employees which accrue annually at 30 days and 20 days respectively. Earned leave is encashable during service subject to keeping residual leave of 30 days at the time of encashment and a maximum of 300 days on superannuation. Half pay leave is encashable in full on superannuation. The liability for the same is recognized on the basis of actuarial valuation. B) Post Retirement Medical Facility: The retired employee and the spouse are provided medical facilities on payment of one time prescribed contribution subject to rendering a minimum of 10 years continuous service. The scheme is voluntary. The scheme is unfunded and is recognized in Profit & Loss A/c on the basis of actuarial valuation on annual basis. C) Gratuity: Gratuity is paid at 15 days salary for every completed year of service subject to rendering of continuous service of not less than 5 years. The ceiling has been raised from ` 3.50 lakhs to `10 lakhs w.e.f. 24.05.2010. D) Benevolent Fund Scheme: Against contribution of ` 26/- p.m. while in service, an employee is eligible to receive an amount of ` 1560/- every month for 5 years from the date of superannuation. E) Post retirement settlement benefits: At the time of superannuation, employees (and dependents) are entitled to settle at place of their choice in India. They are eligible for transfer traveling allowance etc. as applicable to serving employee on transfer. The scheme is unfunded and is recognized in Profit & Loss A/c on the basis of actuarial valuation on annual basis.

ii)

Disclosures required under Accounting Standard (AS)-15 (revised) on Employee Benefits, in respect of defined benefit obligations are:

i) Expenses recognized in Profit & Loss Account

GRATUITY POST RETIREMENT POST RETIREMENT MEDICAL BENEFITS SETTLEMENT BENEFITS

Current Year

Previous Year

Current Year

Previous Year

Current Year

Previous Year

Current Service Cost Interest cost on benefit obligation Expected return on plan assets Net actuarial (gain)/loss recognized in the year Expenses recognized in the Profit & Loss A/c

25.33 48.21 (8.88) 140.72 205.37

19.73 47.94 (7.62) (48.99) 11.06

43.54 14.37 7.44 65.35

34.78 12.08 (11.17) 35.69

1.52 7.13 (1.15) 7.50

1.41 7.94 (18.81) (9.46)

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ii) The amount recognized in the Balance Sheet

iii) Changes in the present value of the defined benefit obligations:

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