India's largest drug maker Sun Pharmaceutical Industries on May 12 announced that it would pay an amount equivalent to 2 years' salary to families of employees who died of COVID-19 in India.
The payout will be minimum of 25 lakh and maximun of 1.2 crore, depending on the employee's salary.
The company also assured that the school/college fees of children of the demised employee will be paid up to their graduation.
The support is applicable to all India-based fulltime employees retrospectively from April 1, 2020.
Sun Pharma has 27,000 full time employees based in India.
Moneycontrol learned that this support will be over and above the existing group term insurance that covers all its employees in case of death and disability.
An email sent to Sun Pharma spokesperson remains unanswered.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.