Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 367

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 367
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 31, 2024 and Nil 
 for the year ended March 31, 2023.                                                                                                     |

| 30 | Employee benefit plans (unfunded) |

Employee benefit plans includes gratuity and compensated absences payable to employees. These benefit plans consist a defined benefit plan for gratuity payable by the Indian subsidiary of the Company under Indian regulations. These are determined under the projected unit credit method, with actuarial valuations being carried out at each reporting date. The retirement benefit obligations recognized in the Consolidated Balance Sheet represents the present value of the defined obligations. Under an employee benefit plan, it is the Company’s obligation to provide agreed benefits to the employees. The related actuarial and investment risks fall on the Company. The summary of current and non-current employee benefit plans obligations along with it’s components are as below:

Pension and other employee obligations

|                      | As at |   |   March 
     31, 
    2024 |     |   |   March 
     31, 
    2023 |
|:---------------------|:------|:--|--------:|:----|:--|--------:|
| Current              |       |   |         |     |   |         |
| Gratuity             |       | $ |  93,967 |     | $ |  70,872 |
| Compensated absences |       |   |  89,688 |     |   |  75,134 |
|                      |       |   | 183,655 |     |   | 146,006 |
| Non current          |       |   |         |     |   |         |
| Gratuity             |       |   | 258,524 |     |   | 215,841 |
| Compensated absences |       |   | 232,925 |     |   | 222,967 |
|                      |       |   | 491,449 |     |   | 438,808 |

(This space has been left intentionally blank) F-98 ZOOMCAR HOLDINGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

| 30 | Employee benefit plans (unfunded) 
 (Continued)                       |

| I. | Gratuity |

|                                               |     |   |   March 
     31, 
    2024 |   |     |   |    March 
      31, 
     2023 |   |
|