Section 129 in The Companies (Accounting Standards) Rules, 2006
129. The amount recognised as a liability for other long-term employee benefits should be the net total of the following amounts:
(a)the present value of the defined benefit obligation at the balance sheet date (see paragraph 65);(b)minus the fair value at the balance sheet date of plan assets (if any) out of which the obligations are to be settled directly (see paragraphs 100-102).In measuring the liability, an enterprise should apply paragraphs 49-91, excluding paragraphs 55 and 61. An enterprise should apply paragraph 103 in recognising and measuring any reimbursement right.
