Company: ZCARW
Filing Date: 2025-02-14
Form Type: 10-Q
Source: 0001213900-25-014437
Chunk: 59

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-02-14
Form: 10-Q
Item: Part I, Item 1
Chunk 59
---
 months and 2 common stock options (224 prior to Reverse Stock
Split) for the nine months ended December 31, 2023 respectively and the 380,011 private warrants (37,956,206 prior to Reverse Stock Split)
for the three months and nine months ended December 31, 2024 respectively and 12,876 private warrants (1,287,616 prior to Reverse Stock
Split) for the three months and 4,276 private warrants (427,639 prior to Reverse Stock Split) for nine months ended December 31, 2023
respectively.

    28
    Employee benefit plans (unfunded)

Employee benefit plans includes gratuity
and compensated absences payable to employees. These benefit plans consist of a defined benefit plan for gratuity payable by the Indian
subsidiary of the Company under Indian regulations. These are determined under the projected unit credit method, with actuarial valuations
being carried out at each reporting date. The retirement benefit obligations recognized in the Condensed Consolidated Balance Sheets represents
the present value of the defined obligations. Under an employee benefit plan, it is the Company’s obligation to provide agreed benefits
to the employees. The related actuarial and investment risks fall on the Company. The summary of current and non-current employee benefit
plans obligations along with its components are as below:

    Pension and other employee obligations 

    As at 
    December 31,
 2024  
    March 31,
 2024 
  
    Current 

    Gratuity 
    $78,460  
    $93,967 
  
    Compensated absences 
     68,516  
     89,688 

    $146,976  
    $183,655 
  
    Non-current 

    Gratuity 
    $200,148  
    $258,524 
  
    Compensated absences 
     145,708  
     232,925 
  
    Other statutory dues 
     2,074  
     - 

    $347,930  
    $491,449 

40

ZOOMCAR HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED
FINANCIAL STATEMENTS (UNAUDITED)

    28
    Employee benefit plans (unfunded) (Continued)

I.Gratuity

    Three months ended 
December 31,  
    Nine months ended 
December