Covid death: Companies continue pay, support kids’ education
The salary will be the same as his last compensation which he drew before his demise. Along with the salary, it will offer medical benefits, housing facilities and bear all educational expenses of the deceased employee’s children till their graduation in India.
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Mankind Pharma, marketer of Prega News pregnancy kit, has launched a Covid protection policy under which it will contribute an amount equivalent to five years of the last drawn gross salary to the dependents of the deceased employee with a maximum limit of Rs 50 lakh. Besides, it will provide medical cover to the dependents of the employee registered in the group mediclaim policy for three years after his demise.
Bajaj Auto will pay two years’ salary with a maximum limit of Rs 2 lakh per month to the family of the employee who died due to Covid. It will also offer an annual education assistance of Rs 1 lakh and Rs 5 lakh to the children of the deceased employee till the completion of standard 12 and graduation.
“Tata Steel stands together with a deep sense of loss at the sad demise of its employees during this dreadful pandemic. For all the yesterdays they devoted to help create a beautiful tomorrow, Tata Steel’s best-in-class social security schemes will help ensure an honourable standard of living for their families,” read the company’s statement. The metal flagship of the country’s largest conglomerate Tata Group didn’t reveal the number of Covid casualties it had. Sister company Tata Motors lost 47 employees to Covid in India. The country’s Covid death toll has moved past 3 lakh amid its public health system buckling under the weight of rising infections.
“Since the surge in Covid cases across India, several families of the employees struck with the misfortune have been assisted,” said TVS Credit chief people officer Jayashubha K. “It is important for the organisation to reassure and provide security to the families while they overcome the bereavement.” TVS Credit Services, among other support initiatives, will cover all education expenses of the deceased employee’s children till they graduate from any Indian college. Indiabulls Housing Finance too announced a similar education sponsorship offer. Besides, it will continue to pay two years’ salary to the family of the deceased employee.
Tech Mahindra has introduced a special HR policy offering employment, learning and development, and educational opportunities to dependents of the deceased employee. Similarly, Amway India has pledged financial aid and educational support to the spouse and children of the deceased employee.
Companies have also extended support to the employees of their dealers and business partners. Sonalika Tractors will pay Rs 2 lakh to the family of the deceased dealer associate. “The second wave of Covid has been extremely unpredictable and unfortunately has impacted many of our business associates and channel partners, especially dealer employees. We believe that no financial assistance can make up for any kind of health loss or untimely demise of an individual. However, through the new extensive support measures such as medical expense assistance up to Rs 25,000 and financial support of up to Rs 2 lakh to the immediate family member in case of demise due to Covid, we remain committed to stand together with our dealers and their employees across the country while assuring mental support to all,” said Sonalika executive director Raman Mittal.