Company: ZCARW
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001213900-25-076590
Chunk: 46

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 46
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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 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 
    June 30,
 2025  
    Mar 31, 
2025 
  
    Current 

    Gratuity 
    $78,942  
    $82,547 
  
    Compensated absences 
     74,585  
     70,325 

    $153,527  
    $152,872 
  
    Non-current 

    Gratuity 
    $268,225  
    $221,961 
  
    Compensated absences 
     177,106  
     170,062 
  
    Other statutory dues 
     2,074  
     2,007 

    $447,405  
    $394,030 

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34

ZOOMCAR HOLDINGS, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS (UNAUDITED)

24Employee benefit plans (unfunded) (Continued)

    I. Gratuity 

    June 30, 2025  
    June 30, 2024 
  
    Changes in projected benefit obligation (PBO) 

    PBO at the beginning of the year 
    $304,509  
    $352,492 
  
    Service cost 
     18,507  
     19,552 
  
    Interest cost 
     4,887  
     5,283 
  
    Actuarial loss 
     30,693  
     63,511 
  
    Benefits paid 
     (10,389) 
     (114,577)
  
    Effect of exchange rate changes 
     (1,038) 
     (820)