WELFARE SCHEMES FOR EMPLOYEES
Contentment and all around development of employees at all levels is of paramount importance to the Corporation. Besides, multi-dimensional human resource development initiatives on an ongoing basis, Corporation has over the years introduced employees welfare measures in a graduated manner. Currently the list stands as under :
Meritorious Scholarship Scheme
Detailed Scheme
Group Medical Insurance Scheme
Group Insurance Scheme
The inservice employees in the regular establishment of the Corporation are covered by a Group Insurance Scheme on payment of subscription by the employees according to their scale of pay.
Housing Subsidy
Employees of the Corporation on transfer from one place to another are entitled to housing subsidy at the new place of posting in addition to HRA of the station at which the family is left behind.
The Corporation also facilitates the employees for hiring their own accommodation at the new place of posting by allowing them interest free advance recoverable in twelve monthly installments.
Company Leased Accommodation
Employees at the level of General Manager and above are entitled to Company leased accommodation.
Introduction of Group Term Life Insurance policy and Future Service Gratuity scheme for ºÚÁÏÍø Regular Employees as a welfare measure for the period from 06.08.2024 to 05.08.2025
As a welfare measures Company has obtained a Group Term Life Insurance policy for the period 06.08.2024 to 05.08.2025 from M/s LIC of India covering all the regular employee on roll as on 01.08.2024. The maximum amount of sum insured is Rs.15 Lacs for each employee and will be given to nominee in case of death of employee. Due to death of an employee in harness, the group term life insurance of Rs.15 Lacs will be paid to the employee nominee of the deceased employee. This is an additional benefit to the employee apart from the other welfare benefits.
Company has also obtained a Future Service Gratuity scheme for the period 06.08.2024 to 05.08.2025 from M/s LIC of India covering all the regular employees on roll as on 06.08.2024. The maximum amount of sum insured is Rs.20 Lacs for each employee. Upon death of a regular employee, accumulated Gratuity on actual period of service rendered by him will be given by the Company and the remaining Gratuity amount based on notional retirement period will be given by the Insurance Company to the nominee subject to a maximum ceiling of Rs. 20 lacs. This is an additional benefit to the employee apart from the other welfare benefits.