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eligible PF and EDLI benefits, gratuity benefits, if ESIC covered then ESIC benefits else, Medical Insurance benefits, Superannuation, P L enchantment if any balance, and any other welfare benefits if organization wants to give like one day salary of employees on volunteer base.
To make this policy for dead employee, its only make when company is willing to give excluding legal benefits, else not required.
22nd June 2013 From India, Ahmadabad
In addition to whatever specified by earlier member, you can include Pension benefit, as per Act 1995,Gratuity benefit as per act 1972 or if your company has made Group Gratuity Trust with LIC then that benefit will be calculated as if the employee has completed 58/60 yrs,, , Ex-gratia if any by company or welfare fund if any maintained by organisation, etc. Based on management policy you can include fund for the purpose.
S D Patil
22nd June 2013 From India, Kolhapur
This is in addition to what other senior members have said.
First and foremost "death" of employee is not a separation.
You need to investigate the death of employee. Is it attributable to the employer? If yes, then the compensation will be higher.
For this better to conduct the enquiry. As a part of enquiry, let the a some employee be detailed to do his/her final clearance. Let deceased employee's family surrender company's assets. Based on this enquiry office can give report what is outstanding against him/her. whether to do 'write off" action or initiate recovery for the non-return of company's assets is call of the management.
Depending on the designation, you need to find out whether the deceased employee is eligible for compensation under "Workers Compensation Act". For this it is better to approach some labour lawyer. You may visit the labour office to get first hand information.
Dinesh V Divekar
22nd June 2013 From India, Bangalore