TVS Motor to offer extra salary, extended medical cover to families of employees succumbing to COVID-19
The ex-gratia is in addition to the standard TVS Motor Company Family Welfare Fund and other statuary benefits applicable to deceased employees and their families
May 13, 2021 / 02:17 PM IST
TVS Motor Company will pay up to three times the gross annual salary to the family of any employee who dies due COVID-19. The company will also fund the education of the employee's children up to under-graduation.
The ex-gratia is in addition to the standard TVS Motor Company Family Welfare Fund and other statuary benefits applicable to deceased employees and their families.
Besides bearing hospitalisation costs arising out of COVID-19, TVS Motor will also pay for medical insurance for three years to the bereaved family.
"In case of an unfortunate eventuality, the company will step in to ensure that the bereaved family is provided with a complete support system to help them cope with the loss and grief. As an immediate relief the company will provide compensation as ex-gratia to the legal heir of the deceased employee," TVS said in a statement.
The maker of Apache and Jupiter models will also provide educational assistance for up to two children till they finish under-graduation.
On May 12 Bajaj Auto also rolled out similar assistance programme for its employees where it promised to pay up to Rs 2 lakh per month for 24 months education assistance for a maximum of two children of Rs 1 lakh per child per annum up to 12th standard and Rs 5 lakh per annum per child for graduation.
Glassware brand Borosil and pharmaceutical giant Sun Pharma also offered several similar employee assistance programme.
India’s corporate sector has stepped up relief measures by setting up temporary hospitals, accelerated vaccination of its employees, vaccination of local community, providing medical equipments like oxygen cylinders, masks, sanitisers, face shields, gloves, to name a few.