| 1. Other Plans
The two other plans of the company for gratuity and leave encashment
are unfunded. Any amount paid and provided for gratuity and leave
encashment are adjusted to profit & loss account. Liability is
ascertained at the end of each financial year and the increase/decrease
in the amount of the liability is adjusted in profit & loss account.
Liability of gratuity payable to an employee is equal to 15 days salary
based on the last drawn salary for every completed year of service or
part thereof in excess of six months. Salary for a day is calculated
by dividing the salary last drawn by 26 (being the number of working
days in a month). During the year Rs. 119366 (previous year Rs. 38943)
was paid as gratuity to the employees and Rs. 885746 (previous year Rs.
662477) has been adjusted to the profit & loss account on account of
variation in liability for gratuity at year end. Liability of leave
encashment payable to an employee is equal to salary for earned leaves
to the credit of the employee based on the last drawn salary. Salary
for a day is calculated by dividing the salary last drawn by 26 (being
the number of working days in a month). During the year Rs. 315984
(previous year Rs. 123233) was paid as leave encashment to the
employees and Rs. 674301 (previous year Rs. 446919) has been adjusted
to the profit & loss account on account of variation in liability for
leave encashment at year end.
2. Related Party Disclosure:
A. Names of related parties and description of relationship
Key management personnel
Shri Satish Jain Mg. Director
Shri Arhant Jain Director (Mkt)
Shri Udit Jain Executive (Business Development)
3. Disclosure in respect of loans/advances & investments in its own
shares by the company its subsidiaries /associates etc. (as required
under clause 32 of listing agreement) is not being made as the company
had not granted any loan or advances in the nature of loan.
4. Effective 1st April 2014, the company has revised the estimated
useful life of fixed assets, wherever appropriate, on the basis of
useful life specified in Schedule II of the Companies Act, 2013. The
carrying amount as on 1st April, 2014 is depreciated over the revised
remaining useful life. As a result of these changes, the depreciation
charged forthe year ended 31st March, 2015 is higher by Rs. 6,11,363/-.
5. Figures for the previous year have been regrouped / rearranged
wherever considered necessary.
6. Paisa has been rounded off to the nearest rupee.
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