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  • Employee Benevolent Fund Provides Rs. 1 Lakh Death Benefit

    Загружено:

    ayeshahaq
    51 просмотров1 страница
    The employee benevolent fund has the objective of providing financial assistance to an employee's family after their death. It covers all employees except those at the M3 level. Under the fund, employees contribute Rs. 10 per month which is matched by the employer. In the event of a natural death (excluding suicide), Rs. 100,000 will be paid to the deceased employee's nominee within 30 days. If no claims are made within a year, the collected funds will be used for employee recreation activities. A committee will verify claims and certify the death of any employee.

    Исходное описание:

    Оригинальное название

    Benevolent Fund

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    © Attribution Non-Commercial (BY-NC)

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    The employee benevolent fund has the objective of providing financial assistance to an employee's family after their death. It covers all employees except those at the M3 level. Under the fund, employees contribute Rs. 10 per month which is matched by the employer. In the event of a natural death (excluding suicide), Rs. 100,000 will be paid to the deceased employee's nominee within 30 days. If no claims are made within a year, the collected funds will be used for employee recreation activities. A committee will verify claims and certify the death of any employee.

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    51 просмотров1 страница

    Employee Benevolent Fund Provides Rs. 1 Lakh Death Benefit

    Загружено:

    ayeshahaq
    The employee benevolent fund has the objective of providing financial assistance to an employee's family after their death. It covers all employees except those at the M3 level. Under the fund, employees contribute Rs. 10 per month which is matched by the employer. In the event of a natural death (excluding suicide), Rs. 100,000 will be paid to the deceased employee's nominee within 30 days. If no claims are made within a year, the collected funds will be used for employee recreation activities. A committee will verify claims and certify the death of any employee.

    Авторское право:

    Attribution Non-Commercial (BY-NC)
    Скачайте в формате PDF, TXT или читайте онлайн в Scribd
    Отметить как неприемлемый контент
    из 1

    EMPLOYEE’S BENEVOLENT FUND

    (a) Objective:
    To safe guard our employee’s family after his/ her passes away.

    In Detail:
    Every employee will contribute 10/- (monthly) and management also makes equal
    contribution and on the death of an employee, an amount of Rs.1, 00,000/- (Rupees One
    lakh) would be paid from the fund to the nominee of the deceased employee within 30 days
    of the death of the employee.

    (b) Scope:
    Covers all employees except M3 level.

    (c) Applicability:

    Applicable to all natural deaths, except suicide.

    (d) Source of Funds:


    Contribution would be directly deducted from the salary and would be remitted to
    XXX (P) Ltd. Employees’ Benevolent Fund Scheme.

    S No Of Emp Employer Tot Fund/ Tot Fund/ Year


    No Emps Contribution Contribution Month

    1 484 (As on =484*10 =4840.00 =9680.00/- =1,16,160.00


    date) =4840.00

    (e) Validity + Grace Period:


    By god’s grace if no such circumstance occurred to our employee within one year
    then collected fund is used for “Employee Recreation”.

    (f) Panel Decision:


    A committee is appointed to certify the death employee.

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