Vedanta to provide salary, other benefits to families of deceased employees till retirement
Under the aegis of Vedanta Cares Covid relief initiatives, the company announces long term HR benefits, on its commitment to ensure the health and well-being of its people to include enhanced Covid insurance for its employees, their families and business partners.
Employee-centricity is at the core of Vedanta which has taken up employee friendly initiatives to promote health and safety of its people, especially during the current pandemic.
Vedanta will provide Covid Kawach Insurance for their business partners that includes Term Life and Hospitalisation and an Ex- gratia amount of INR 10 Lakhs to be paid to the family members of the deceased business partners.
Considering the fatalities due to Covid-19 and the recent black fungus epidemic the company is providing benefits for family members of the deceased employees in the form of continued payments of last drawn fixed salary till notional date of retirement. In continuation of Mediclaim Insurance coverage till notional date of retirement and education assistance for 2 children till graduation.
Vedanta Chairman Anil Agarwal said, “At Vedanta, our employees and our extended family of business partners have always been our greatest resource and their safety and wellbeing is our foremost priority. Our group has today announced an additional Ex gratia payment of 10 lacs each to the families of the deceased business partners apart from the other benefits, which is to protect the wellbeing of all our people and their families through these tough times. Keeping the repercussions of the second wave in mind we are bolstering our efforts towards ensuring optimum protection for our people.”
The Medical insurance cover has also been enhanced to 1.5 times the existing eligibility. Vedanta is extending all support that is required and a corporate floater cover is introduced for any employee that exceeds their eligibility. This also includes enhanced medical Insurance cover to cater to all expenses including reimbursement for home treatment. The company also provides a best in class Life insurance policy equivalent to 5 times of annual fixed pay.
The company is spending around Rs. 12.6 crore to procure vaccines in bulk for the Vedanta family including business partners, making it one of the largest vaccination drives across the Corporate Sector in India.
Vedanta has provided a lot of support to the society and ones affected by the pandemic in the form of producing and supplying oxygen, procuring oxygen cylinders, setting up field hospitals, beds, portable ventilators, treatments isolation, vaccinations etc.
The company is leaving no stone unturned when it comes to the safety of its employees. As part of their disaster management protocol, their Covid warriors are preparing and taking pre-emptive and preventive measures in case of any signs of a third wave.