Company: ZCARW
Filing Date: 2025-03-04
Form Type: S-1
Source: 0001213900-25-020176
Chunk: 368

Company: Zoomcar Holdings, Inc.
Filing Date: 2025-03-04
Form: S-1
Chunk 368
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INGS, INC. NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

| 30 | Employee benefit plans (unfunded) 
 (Continued)                       |

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

|                                                       |     |     | March 
   31, 
  2024 |   |     |     | March 
   31, 
  2023 |   |
|:------------------------------------------------------|:----|:----|------:|:--|:----|:----|------:|:--|
| Discount rate - staff                                 |     |     |  7.17 | % |     |     |  7.37 | % |
| Discount rate - independent service provider*         |     |     |  7.12 | % |     |     |  7.25 | % |
| Attrition rate - staff                                |     |     | 39.54 | % |     |     | 36.00 | % |
| Attrition rate - independent service provider*        |     |     | 85.68 | % |     |     | 92.00 | % |
| Rate of increase in compensation levels - staff       |     |     | 12.63 | % |     |     | 12.67 | % |
| Rate of increase in compensation levels - independent 
 service provider*                                     |     |     | 11.43 | % |     |     | 14.50 | % |

| * | Independent service provider                                                 
 are contract employees responsible for maintaining the fleet of the Company. |

During the period ended March 31, 2024 and March 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-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.

Sensitivity analysis for the :

|                                               |     |          |    March 
 31, 2024 |   |     |          |        |   |     |          |    March 
 31, 2023 |     |          |         |   |
|:----------------------------------------------|:----|:---------|---------:|:--|:----|:---------|-------:|:--|:----|:---------|---------:|:----