Chennai, May 29: Lump sum financial compensation, continued payment of last drawn salary to the family, job for a family member on compassionate grounds, extension of medical insurance are some of the welfare measures announced by various corporates for the families of employees who succumb to Covid-19.
"The policy will also extend existing medical insurance to the immediate family for next five years. Education for two children of the deceased employee, up to graduation level, will be taken care of by the company," Jindal Stainless said.
That apart, one-time relocation expenses of the dependents will also be supported by the organisation.
According to the company, the assistance under this policy will be over and above the other prevalent social security and welfare benefits scheduled for dependents.
"These measures will be applicable for Jindal Stainless (Hisar) Ltd and the subsidiaries of the two companies," a group official told IANS.
Kitchen appliances major TTK Prestige Ltd, part of the Rs 30 billion TTK group, announced that it would pay an ex-gratia to the next of kin of the deceased due to Covid-19, a sum equivalent to 100 per cent of the monthly take-home salary for a period of a year.
"In the second year, the amount will be equivalent to 50 per cent of the monthly take-home salary. Medical insurance coverage will be extended to the existing nominated family members for a period of two years from the date of death," the company said.
TTK Prestige will also aim to provide employment to one family member, subject to employment readiness, skillset of the candidate and business requirements.
"Fortunately, none of our employees have succumbed to Covid-19. We announced these measures on Thursday," T.T. Jagannathan, Chairman, TTK Prestige, told IANS.
The Indian subsidiary of Germany's BSH group, BSH Home Appliances will pay a sum equivalent to 24 months of the employee's last drawn monthly gross salary, in case of death due to Covid-19.
"In addition, medical insurance coverage for dependents of a deceased employee due to Covid-19, will be extended for 2 years from the date of demise," Neeraj Bahl, MD & CEO, BSH Home Appliances said.
Government owned Indian Bank has its own compassionate appointment scheme under which a family member of an employee who dies during service is provided a job.
"The bank had unfortunately lost about 110 employees to the dreaded virus, most of them during the pandemic's second wave.
Eleven persons belonging to the deceased employees' families have applied for a job on compassionate grounds and appointment orders for some of them have been issued," Padmaja Chunduru, Managing Director and CEO told media.