Under this policy, family members/nominees of deceased employees from 1st April 2020 and subsequent cases up to 31st March 2022 will receive a full monthly fixed salary for two years beginning June 2021.
Kotak Mahindra Group announced the Pandemic Benevolent Policy for its 73,000 employees. Under this policy, family members/nominee of deceased employees from 1st April 2020 and subsequent cases up to 31st March 2022 will receive a full monthly fixed salary for two years beginning June 2021.
“This policy is applicable to families or nominees of all deceased employees, irrespective of the cause of death – whether pertaining to Covid-19 or any other cause not related to the Covid-19 pandemic,” it said in a statement.
Family members or nominees of deceased employees eligible for the annual bonus will also receive the annual year-end bonus for 2020-21. Additionally, Kotak’s Mediclaim Insurance will cover the spouse and minor children of the deceased employee for the current fiscal year.