100% accuracy needed

2016-June [7](b) The particulars of a Supervisory employee of MAHAVINA LTD., a manufacturing company show the annual expenses as follows: (i) Basic pay including Industrial D.A. 7,00,000 (ii) Lease rent paid for accommodation provided to the employee 2,40,000 (iii) Amount recovered from employee 60,000 (iv) Employer's contribution to P.F. 56,000 (v) Employee's contribution to P.F. 56,000 (vi) Reimbursement of medical expenses 67,000 (vii) Hospitalization expenses including Group Medical Insurance borne by the employer 19,000 (viii) Annual Bonus 30,000 (ix) Festival Advance 30,000 (x) The Employer manages P.F. through a Trust, and the shortfall in the return of the Trust Account compared to the notified rate is around 0.75% p.a. reimbursed to the Trust. (xi) The future benefit (Gratuity) to the employee is insured with L.I.C., the premium of which costs 4% p.a. approx. Required: Calculate the Employee Cost for the year ended March 31, 2016-keeping in view of Cost Accounting Standard (CAS)- 7. (6 marks)