v3.26.1
Employee Benefit Plan (Tables)
 6 Months Ended
Jun. 30, 2026
Employee Benefit Plan [Abstract]  
Schedule of Change in Projected Benefit Obligation

The benefit obligation has been measured as of June 30, 2026, and December 31, 2025. The following table sets forth the activity and the amounts recognized in the Company’s consolidated financial statements at the end of the relevant periods:

 

    June 30,
2026		     December 31,
2025		  
Change in projected benefit obligation            
Projected benefit obligation at beginning of period   $ 208,571     $ 80,833  
Service cost     42,767       59,280  
Amortization of prior service cost     6,089       1,433  
Interest cost     7,495       5,627  
Benefits paid     -       -  
Actuarial loss ^     20,870       29,553  
Prior service cost     -       37,823  
Effect of exchange rate changes     (17,957 )     (5,978 )
Projected benefit obligation at end     267,835       208,571  
Unfunded status in the end     267,835       208,571  
Unfunded amount recognized in consolidated balance sheets                
Non-current liability (included under other non-current liabilities)     240,465       188,622  
Current liability (included under accrued employee costs)     27,370       19,949  
Total accrued liability     267,835       208,571  
Accumulated benefit obligation at end of period   $ 133,444     $ 101,031  

 

^ During the six months period ended June 30, 2026, and December 31, 2025, actuarial loss was driven by changes in actuarial assumptions, offset by experience adjustments on present value of benefit obligations.
Schedule of Components of Net Periodic Benefit Costs

Components of net periodic benefit costs recognized in condensed consolidated statements of operations and comprehensive loss and actuarial loss reclassified from AOCI, are as follows:

 

    June 30,
2026		     June 30,
2025		  
             
Service cost   $ 42,767     $ 21,319  
Amortization of prior service cost     6,089       -  
Interest cost     7,495       2,881  
Expected return on plan assets     -       -  
Amortization of actuarial loss, gross of tax     -       -  
Net gratuity cost   $ 56,351     $ 24,200  
Schedule of Components of Retirement Benefits Included in AOCI, Excluding Tax Effects

The components of retirement benefits included in AOCI, excluding tax effects, are as follows:

 

    June 30,
2026		     June 30,
2025		  
             
Net actuarial loss   $ 20,870     $ 19,822  
Amount recognized in AOCI, excluding tax effects   $ 20,870     $ 19,822  
Schedule of Weighted Average Actuarial Assumptions used to Determine Benefit Obligations

The weighted average actuarial assumptions used to determine benefit obligations and net gratuity cost are as follows:

 

    June 30,
2026		     June 30,
2025		  
             
Discount rate     7.41 %     7.17 %
Rate of increase in compensation levels     15.50 %     12.50 %
Expected long-term rate of return on plan assets per annum     - %     - %
Schedule of Expected Benefit Payments

 

Expected benefit payments as of June 30, 2026 are as follows:

 

2026, excluding the six months ended June 30, 2026   $ 27,370  
2027     53,593  
2028     47,343  
2029     44,551  
2030     35,325  
2031-2035   $ 187,477