31 Disclosure pursuant to Accounting Standard 15 specified in Rule 7 of the Companies (Accounts) Rules, 2014 are as under:         

Defined Contribution Plans:                                                  

Amount of Rs. 10,179,728 (brvious year Rs. 6,506,981) pertaining to employers contribution to provident fund and other fund is recognized as expenses and included in "Employees benefits expense in note 23.                                                     

Defined Benefit Plans/Other long term employee benefits:                                                  

Gratuity scheme – This is a unfunded defined benefit plan for qualifying employees. The scheme provide for lump sum payment to vested employees at retirement, death while in employment or on termination of employment. Vesting occurs upon completion of five year of services.                                                     

The disclosure for gratuity and compensated absence cost is given below:                                                  

a)      The changes in the brsent value of obligation rebrsenting reconciliation of opening and closing balances           

Particulars	As at 31 March 2017		As at 31 March 2016
	Compensated Absence	Gratuity	Compensated Absence	Gratuity
Liability at the beginning of the year	5,931,102	4,609,118	1,729,164	2,519,664
Acquisition adjustment	-	-	-	-
Interest cost	444,516	345,538	134,296	195,690
Current service cost	5,566,459	3,783,195	2,428,201	2,371,344
Benefit paid	(2,643,986)	(195,865)	(1,833,616)	-
Actuarial (gain)/loss	1,662,297	(1,100,310)	3,473,057	(477,580)
Liability at the end of the year	10,957,800	7,557,078	5,931,102	4,609,118
b) Amount recognized in the balance sheet
Particulars	As at 31 March 2017		As at 31 March 2016
	Compensated Absence	Gratuity	Compensated Absence	Gratuity
Amount recognized in balance sheet	10,957,800	7,557,078	5,931,102	4,609,118
Recognized under:
Long term provisions (refer note 7)	6,371,337	5,833,767	4,220,469	3,978,759
Short term provisions (refer note 7)	4,586,463	1,723,311	1,710,633	630,359
c) Expenses recognized in Statement of Profit and Loss
Particulars	For the year ended		For the year ended
31 March 2017		31 March 2016
	Compensated Absence	Gratuity	Compensated Absence	Gratuity
Current service cost	5,566,459	3,898,697	2,428,201	2,371,344
Interest cost	444,516	345,538	134,296	195,690
Net actuarial (gain)/loss recognized during the year	1,662,297	(1,100,310)	3,473,057	(477,580)
Net benefit expenses	7,673,272	3,143,825	6,035,554	2,089,454
d) The principal assumptions used in determining the gratuity and compensated absence benefit obligation is as given below:
Particulars	As at 31 March 2017		As at 31 March 2016
	Compensated Absence/Gratuity		Compensated Absence/Gratuity
Discount rate (per annum)	6.50%	6.50%	7.50%	7.50%
Rate of increase in compensation	7.50%	7.50%	7.50%	7.50%
The estimate of future salary increase, considered in actuarial valuation, takes into account inflation, seniority, promotion and other relevant factors.
e) Demographic assumptions:
Particulars	Assumptions as at 31 March 2017			Assumptions as at 31 March 2016
Retirement age		60 years		60 years
Mortality table		IALM (2006-08)		IALM (2006-08)
Withdrawal rates
upto 30 years		40%		30%
from 31 to 44 years		40%		25%
above 44 years		40%		15%
f) Experience adjustment
Particulars
As at                         31 March 2017	As at                          31 March 2016	As at                         31 March 2015	As at                         31 March 2014
Compensated absence
Defined benefit obligation	10,746,482	5,879,560	1,729,164	849,877
Funds status	(10,746,482)	(5,879,560)	(1,729,164)	(849,877)
Experience gain/(loss) adjustment	1,411,007	1,299,683	200,846	339,457
on plan liabilities
Experience gain/(loss) adjustment	NA	NA	NA	NA
on plan assets
Gratuity
Defined benefit obligation	7,441,576	4,609,118	2,519,664	1,486,700
Funds status	(7,441,576)	(4,609,118)	(2,519,664)	(1,486,700)
Experience gain/(loss) adjustment	798,436	(862,457)	(419,510)	(346,137)
on plan liabilities
Experience gain/(loss) adjustment	NA	NA	NA	NA
on plan assets
* The Group does not have any plan assets.

The Group has adopted Accounting Standard (AS) 17 on “Segment Reporting” as specified in Rule  7 of Companies (Accounts) Rules, 2014, is not applicable since the group primarily operates within single primary segment of whole sale trade and distribution of branded and private labelled  eyeglasses, sunglasses, contact lenses, accessories product and related activity and a single geographical segment.