Gillette_India_Limited_AR_20

Annual Report 2019-20 110 Notes to Financial Statements for the year ended June 30, 2020 Gillette India Limited 28 Earnings per share Year ended June 30, 2020 ` in lakhs Year ended June 30, 2019 ` in lakhs Basic and diluted earnings per share Total basic earnings per share (face value ` 10) 70.64 77.62 Total diluted earnings per share (face value ` 10) 70.64 77.62 28.1 Basic and Diluted earnings per share The earnings and weighted average number of equity shares used in the calculation of basic and diluted earnings per share are as follows: Year ended June 30, 2020 ` in lakhs Year ended June 30, 2019 ` in lakhs Profit for the year attributable to owners of the Company 23 018 25 292 Earnings used in calculation of basic and diluted earnings per share 23 018 25 292 Year ended June 30, 2020 Year ended June 30, 2019 Weighted average number of equity shares for the purposes of basic and diluted earnings per share 3 25 85 217 3 25 85 217 29 Employee benefit plans 29.1 Defined contribution plans The Company operates defined contribution superannuation fund and employees' state insurance plan for all qualifying employees of the Company. Where employees leave the plan, the contributions payable by the Company is reduced by the amount of forfeited contributions. The employees of the Company are members of a state-managed employer's contribution to employees' state insurance plan and superannuation fund which is administered by the Life Insurance Corporation of India. The Company is required to contribute a specific percentage of payroll costs to the contribution schemes to fund the benefit. The only obligation of the Company with respect to the contribution plan is to make the specified contributions. The total expense recognised in the statement of profit and loss of ` 55 lakhs (for the year ended June 30, 2019: ` 61 lakhs) for superannuation fund represent contributions payable to these plans by the Company at rates specified in the rules of the plans. As at June 30, 2020, contributions of ` 5 lakhs (as at June 30, 2019: ` 5 lakhs) due in respect of 2019-2020 (2018-2019) reporting period had not been paid over to the plans. The amounts were paid subsequent to the end of the reporting periods. 29.2 Defined benefit plans a) Gratuity Plan (Funded) The Company sponsors funded defined benefit gratuity plan for all eligible employees of the Company. The Company’s defined benefit gratuity plan is a final salary plan for India employees, which requires contributions to be made to a separately administered trust, which is administered through trustees and / or Life Insurance Corporation of India, where one of the group company is also the participant. The gratuity plan is governed by the Payment of Gratuity Act, 1972. Under the act, employee who has completed five years of service is entitled to specific benefit. The level of benefits provided depends on the member’s length of service and salary at retirement age.