Company: GCL
Filing Date: 2025-03-17
Form Type: DRS
Source: 0001213900-25-024502
Chunk: 318

Company: GCL Global Holdings Ltd
Filing Date: 2025-03-17
Form: DRS
Chunk 318
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 attorneys, underwriters, and others direct costs related to the Merger. Should the
Merger prove to be unsuccessful, these deferred costs, as well as additional expenses to be incurred, will be charged to expenses.

Full-time
employees of the Company are entitled to government-mandated defined contribution plan. The Company is required to accrue and pay for
these benefits based on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with
the relevant government regulations, and make cash contributions to the government-mandated defined contribution plan. Total expenses
for the plans were $145,750 and $101,126 for the six months ended September 30, 2024 and 2023, respectively.

The related
contribution plans include:

Singapore subsidiaries

| — | Central Provident Fund (“CPF”) — 17.00% based                                       
 on employee’s monthly salary for employees aged 55 and below, reduces progressively 
 to 7.5% as age increase;                                                            |

| — | Skill Development Levy (“SDL”) — up to 0.25%                
 based on employee’s monthly salary capped $8.3 (SGD 11.25). |

Malaysian subsidiary

| — | Social Security Organization (“SOSCO”) — 1.75%         
 based on employee’s monthly salary capped of RM 4,000; |

| — | Employees Provident Fund (“EPF”) — 12% based 
 on employee’s monthly salary; and            |

| — | Employment Insurance System (“EIS”) — 0.2%             
 based on employee’s monthly salary capped of RM 4,000. |

Hong Kong subsidiaries

| — | Mandatory Provident Fund (“MPF”) — 5% based        
 on employee’s monthly salary capped of HKD 30,000; |

Brazil subsidiary

| — | Employees’ Severance Indemnity Fund (“FGTS”) 
 — 8% based on employee’s monthly salary;     |

| — | Social Security Contribution (“INSS”) — up                     
 to 14% based on employee’s monthly salary capped of BRL 7,507; |

Revenue
represents the invoiced value of service, net of applicable GST. The GST is chargeable on gross sales price. In Singapore, GST rate is
8% on gross sales price for calendar year 2023 and 9% for calendar year 2024. Entities that are GST-registered are allowed to offset
qualified input