Company: ZCARW
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001213900-25-110391
Chunk: 279

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-11-14
Form: 10-Q
Item: Part I, Item 8
Chunk 279
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 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 September 30, 2025 is as follows: 

    Year ended March 31, 

    2026 (October 1, 2025 till March 31, 2026) 
    $39,460 
  
    2027 
     68,075 
  
    2028 
     44,289 
  
    2029 
     25,805 
  
    2030 
     16,881 
  
    Thereafter 
     148,165 
  
    Total 
    $342,676 

43

ZOOMCAR
HOLDINGS, INC.

NOTES
TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

24Employee
benefit plans (unfunded) (Continued)

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 $7,576 and $42,170 for the three months and six months ended September 30, 2025 respectively ( $(45,949)
and $(1,358) for the three months and six months ended September 30, 2024).

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 $54,908 and $113,620 for the three months and six months ended September
30, 2025 respectively ($65,147 and $158,559 for the three months and six months ended September 30, 2024 respectively).

25Stock-based
compensation expense