Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 286

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 8
Chunk 286
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 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 days of accumulated leave balance on separation. The Company has provided liability for compensated absences as per an
actuarial valuation carried out by an independent actuary as of the Balance Sheet dates. The amount of compensated absences cost is $5,379
and $4,020 for the three months and nine months ended December 31, 2024 respectively ($26,786 and $128,414 for three months and nine months
ended December 31, 2023 respectively).

    Three months ended 
December 31,  
    Nine months ended
 December 31, 
  
    Net leave encashment cost includes the following components 
    2024  
    2023  
    2024  
    2023 
  
    Service cost 
    $(1,933) 
    $(6,569) 
    $24,007  
    $119,187 
  
    Interest cost 
     4,309  
     3,672  
     14,045  
     14,084 
  
    Recognized net actuarial loss 
     3,003  
     29,683  
     (34,032) 
     (4,857)
  
    Net periodic benefit cost 
    $5,379  
    $26,786  
    $4,020  
    $128,414 

    III.
    Defined contribution plan

The Indian subsidiary makes provident
fund contributions which are defined contribution plans, for qualifying employees. Under the Schemes, the Indian subsidiary is required
to contribute a specified percentage of the payroll costs to fund the benefits. The contributions are made to provident fund in accordance
with the fund rules. The interest rate payable to the beneficiaries every year is notified by the Government. The amount of contributions
made to provident fund is $54,704 and $213,263 for the three months and nine months