PremiumWith an intent to support its employees and their families amid the second wave of the coronavirus pandemic, Mankind Pharma on Monday announced the launch of its COVID protection policy. Apart from that, the company also noted its employees would be covered under Employee Deposit Link Insurance scheme.
In its official release the company said, Under the COVID Protection Policy, the company will contribute an amount equivalent to five years of the last drawn gross annual salary to the dependents of the deceased employee with a maximum limit of ₹50 lakh.
It also said, each employee would be covered under the Employee Deposit Link Insurance (EDLI) scheme and the legal nominees will be paid an amount of ₹7 lakh in case of death of the employee.
Further, the company will continue to provide medical cover to the dependents of the employee registered in the Group Mediclaim Policy for three years post the demise of the employee, it added.
"We hope that passing these cumulative supports will help the bereaved family members of the deceased employee to overcome the financial burden. The company is committed to its employees and considers them as its assets and intends to take care of them in all possible ways," Mankind Pharma Executive Chairman R C Juneja said.
The policy has already come into effect, he noted.
Delhi-based Mankind Pharma that employs around 14,000 people has a presence in therapeutic segments such as cardiovascular, antibiotics, gastrointestinal. It markets various brands across pharma and over the counter segments.
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