|
Group |
Company |
|
|
Restated
31 March
2020*
Rm |
31 March
2020
Rm |
| Non-current provisions |
619 |
343 |
601 |
330 |
| Non-current employee related provisions |
606 |
338 |
579 |
316 |
| Subsidiary defined benefit plans (refer to note 29 for the reconciliation of the opening to closing balance) |
27 |
22 |
– |
– |
| Telephone rebates (refer to note 29 for the reconciliation of the opening to closing balance) |
325 |
316 |
325 |
316 |
| Telkom Retirement Fund (refer to note 29 for the reconciliation of the opening to closing balance) |
254 |
– |
254 |
– |
| Non-current non-employee related provisions |
|
|
|
|
| Other |
13 |
5 |
22 |
14 |
| |
|
|
|
|
| Current provisions |
1 613 |
2 006 |
1 043 |
1 589 |
| Current portion of employee related provisions |
1 480 |
1 752 |
1 014 |
1 554 |
| Annual leave |
473 |
479 |
288 |
306 |
|
Balance at the beginning of the year |
479 |
466 |
306 |
302 |
|
Charged to employee expenses |
25 |
36 |
(12) |
4 |
|
Leave paid/utilised |
(31) |
(23) |
(6) |
– |
| Telephone rebates (refer to note 29 for the reconciliation of the opening to closing balance) |
39 |
39 |
39 |
39 |
| Bonus, termination packages and other benefits |
968 |
1 234 |
687 |
1 209 |
|
Balance at the beginning of the year |
1 234 |
670 |
1 209 |
519 |
|
Charged to employee expenses |
1 186 |
1 636 |
810 |
1 321 |
|
Payments made |
(1 452) |
(1 072) |
(1 332) |
(631) |
| Current portion of non-employee related provisions |
|
|
|
|
| Other* |
133 |
254 |
29 |
35 |
|
|
|
|
|
|
* Restated. Refer to note 2.3.1.1.
Annual leave
In terms of the Group's policy, employees are entitled to accumulate vested leave benefits not taken within a leave cycle, to a cap of 15 – 30 days (31 March 2020: 15 – 30 days) which must be taken within a 6 – 19 month (31 March 2020: 12 – 18 month) leave cycle. The leave cycle is reviewed annually and is in accordance with legislation.
Bonus
The bonus scheme consists of performance bonuses which are dependent on the achievement of certain financial and non-financial targets. The bonus is payable annually to all qualifying employees after the Group's results have been made public, with a 14th cheque payable for a certain group of employees.
Voluntary Early Retirement Package (VERP)/Voluntary Severance Package (VSP) and retrenchment provision
During the year under review, the Group initiated a voluntary severance and retrenchment process. An expense relating to the process of R270 million (31 March 2020: R1 186 million) was recognised in the year ending 31 March 2021.
Non-employee related provisions
Other provisions relate to the ICASA licence fee provision and restoration provisions.
|