Company: ZCARW
Filing Date: 2025-03-28
Form Type: DRS
Source: 0001013762-25-003498
Chunk: 338

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-28
Form: DRS
Chunk 338
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uarial                                                                       
 (gain)/loss due to experience on defined benefit obligation                     |     |   |       14,121 |   |     |   | 15,320 |   |     |   |       52,679 |   |     |   | 63,712 |   |
| Total                                                                           |     | $ |       12,031 |   |     | $ | 17,989 |   |     | $ |       54,353 |   |     | $ | 61,594 |   |

<div align='center'>F-42

ZOOMCAR HOLDINGS, INC.

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)</div>

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

|                                                       |     |     | December 31, 
         2024 |   |     |     | December 31, 
         2023 |   |
|:------------------------------------------------------|:----|:----|-------------:|:--|:----|:----|-------------:|:--|
| 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