| Note - 1: Corporate Information
Ellora Paper Mills Limited is a public Company domiciled in India and
incorporated under the provision of the Companies Act, 1956. Its
registered office is situated at 379, Pandit Jawaharlal Nehru Marg,
Ashoka Vault Building, Sitabuldi, Nagpur- 440 012. Ellora Paper Mills
Limited is engaged in the business of manufacture of paper products.
Note- 2: Contingent Liabilities and Commitments
Figures in Rupees
Particulars As at 31st March As at 31st March
2014 2013
Contingent Liabilities
Performance guarantees
given by a bank 1,37,000 11,37,000
Total 1,37,000 11,37,000
Note 3: Employee Retirement Benefits
The Company has a defined benefit gratuity plan. Every employee who
has completed five years or more of service gets a gratuity on
departure at 15 days salary (last drawn salary) for each completed
year of service. The Scheme is unfunded. The present value of
obligation is determined based on acturaial valuation using Projected
Unit Credit Method, which recognises each period of services as giving
rise to additional unit of employee benefit entitlement and measures
each unit separately to build up the final obligation. The obligation
for leave encashment is recognised in the same manner as gratuity.
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