PremiumVedanta Ltd will provide Covid Kawach Insurance for their business partners that includes term life and hospitalization and an ex- gratia amount of ₹10 lakhs to be paid to the family members of the deceased business partner employee, the company said today.
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, “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," the company said, adding that this also includes enhanced medical insurance cover to cater to all expenses including reimbursement for home treatment.
Vedanta also provides a best-in-class Life insurance policy equivalent to five times of annual fixed pay. It is spending around Rs. 12.6 crore to procure vaccines in bulk for the Vedanta family.
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