Company: ZCARW
Filing Date: 2025-06-30
Form Type: 10-K
Source: 0001213900-25-059675
Chunk: 1902

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-06-30
Form: 10-K
Item: Item 6
Chunk 1902
---
  
    March 31,
 2024 
  
    Actuarial (gain)/loss due to demographic assumption changes in defined benefit obligation 
    $(3,524) 
    $(4,289)
  
    Actuarial (gain)/ loss due to financial assumption changes in defined benefit obligation 
     8,720  
     1,977 
  
    Actuarial (gain)/loss due to experience on defined benefit obligation 
     52,467  
     50,904 
  
    Total 
    $57,663  
    $48,592 

The assumptions used in accounting for the gratuity plan are as follows:

    March 31, 2025  
    March 31, 2024 
  
    Discount rate - staff 
     6.54% 
     7.17%
  
    Discount rate - independent service provider* 
     6.54% 
     7.12%
  
    Attrition rate - staff 
     42.61% 
     39.54%
  
    Attrition rate - independent service provider* 
     82.00% 
     85.68%
  
    Rate of increase in compensation levels - staff 
     12.98% 
     12.63%
  
    Rate of increase in compensation levels - independent service provider* 
     10.96% 
     11.43%

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

F-42

ZOOMCAR HOLDINGS, INC.

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

29Employee benefit plans (unfunded) (Continued)

During the year ended March 31, 2025
and March 31, 2024, 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.

Sensitivity analysis for the :

    Year ended 
    March 31, 2025  
    March 31, 2024 

    Increase  
    Decrease  
    Increase  
    Decrease 
  
    Discount rate (- / + 1%) 
    $(10,343) 
    $11,236  
    $(