Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 299

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 299
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|:----|-------------:|:--|:----|:----|-------------:|:--|
| Discount rate – staff                                 |     |     |         6.86 | % |     |     |         7.28 | % |
| Discount rate - independent service provider*         |     |     |         6.84 | % |     |     |         7.21 | % |
| Attrition rate – staff                                |     |     |        42.00 | % |     |     |        37.96 | % |
| Attrition rate - independent service provider*        |     |     |        81.43 | % |     |     |        83.44 | % |
| Rate of increase in compensation levels - staff       |     |     |        12.87 | % |     |     |        12.63 | % |
| Rate of increase in compensation levels - independent 
 service provider*                                     |     |     |        11.13 | % |     |     |        11.43 | % |

| * | Independent service provider are contract employees   
 responsible for maintaining the fleet of the Company. |

During the period ended December 31, 2024 and December 31, 2023, actuarial gain was driven by changes in actuarial assumptions, offset by experience adjustments on present value of benefit obligations.

The Company evaluates these assumptions annually based on its long-term plans of growth and industry standards. The discount rates are based on current market yields on government securities adjusted for a suitable risk premium.

Expected benefit payments as of December 31, 2024 is as follows:

| Year ending March 31,                      
 2025 (January 1, 2025 till March 31, 2025) |     |   |  19,615 |
|:-------------------------------------------|:----|:--|--------:|
| 2026                                       |     |   |  69,633 |
| 2027                                       |     |   |  40,348 |
| 2028                                       |     |   |  27,934 |
| 2029                                       |     |   |  14,652 |
| Thereafter                                 |     |   | 106,427 |
| Total                                      |     | $ | 278,609 |

| II. | Compensated absences |

The employees are permitted to encash a maximum of 45