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Kotak Mahindra Group has announced the introduction of a Pandemic Benevolent Policy for its close to 73,000 employees.
Under this policy, family members or nominees of deceased employees from April 1, 2020 and subsequent cases up to March 31, 2022 will receive full monthly fixed salary for a two year period, starting 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 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.
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