Company: GCL
Filing Date: 2025-09-05
Form Type: F-1/A
Source: 0001213900-25-085150
Chunk: 208

Company: GCL Global Holdings Ltd
Filing Date: 2025-09-05
Form: F-1/A
Chunk 208
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 the Merger prove to be unsuccessful,
these deferred costs, as well as additional expenses to be incurred, will be charged to expenses.

F-19 GCL GLOBAL HOLDINGS LTD AND ITS SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

Defined contribution plan

Full-time employees of the
Company are entitled to government-mandated defined contribution plan. The Company is required to accrue and pay for these benefits based
on certain percentages of the employees’ respective salaries, subject to certain ceilings, in accordance with the relevant government
regulations, and make cash contributions to the government-mandated defined contribution plan. Total expenses for the plans were $,
$ and $ for the years ended March 31, 2025, 2024 and 2023, respectively.

The related contribution
plans include:

Singapore subsidiaries

| — | Central Provident Fund (“CPF”) — 17.00% based on employee’s monthly salary for employees aged 55 and below, reduces progressively to 7.5% as age increase; |

| — | Skill Development Levy (“SDL”) — up to 0.25% based on employee’s monthly salary capped $8.3 (SGD 11.25). |

Malaysian subsidiary

| — | Social Security Organization (“SOSCO”) — 1.75% based on employee’s monthly salary capped of RM 4,000; |

| — | Employees Provident Fund (“EPF”) — 12% based on employee’s monthly salary; and |

| — | Employment Insurance System (“EIS”) — 0.2% based on employee’s monthly salary capped of RM 4,000. |

Hong Kong subsidiaries

| — | Mandatory Provident Fund (“MPF”) — 5% based on employee’s monthly salary capped of HKD 30,000; |

Brazil subsidiary

| — | Employees’ Severance Indemnity Fund (“FGTS”) — 8% based on employee’s monthly salary; |

| — | Social Security Contribution (“INSS”) — up to 14% based on employee’s monthly salary capped of BRL 7,507; |

United Kingdom subsidiary

| — | National Insurance Contribution (“NIC”) — up to 15.05% based on employee’s monthly salary, subject to statutory thresholds; |

| — | Workplace Pension — minimum 3% based on qualifying earnings; |

Dubai subsidiary

| — | General Pension and Social Security Authority (“GPSSA”) —