Top 100 companies on the Bombay Stock Exchange (BSE) had a whopping liability of Rs 2.9 lakh crore to be paid on account of employee benefits till 31 March last year, said a Towers Watson study.
The Tower Watson Employee Benefits: Accounting and Risk study, 2011, showed an increase of 45 per cent in the amount due, to be paid towards employee benefits. The figure was Rs 2 lakh crore in the same period in 2010. The unfunded Employee Benefit Liabilities (where money is not set aside for such finding) had more than doubled to Rs 58,000 crore as on March 31 last year, as against Rs 28,000 crore as on March 31, 2010.
Kulin Patel, director (client account management), Towers Watson India, said: “This year’s findings show that the combined funding of these liabilities has dropped to 80 per cent in 2011 from 86 per cent the previous year. While the liabilities of companies have increased significantly in the last one year, the proportionate rise in assets has not been commensurate.”
