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You can simply circulated a thanks giving mail for their generous participation.
It would be sound good in a CSR activity to distribute a certificate of participation but now its a demise I wont recommend an appreciation letter in this scenario.
Let see what others have to say !!
29th November 2014 From India, Mohali
In my opinion, it will look more appropriate and worthwhile if Director calls the respective team, thanking them for their contribution and great help. It's a good gesture from Director that he wants to highlight their good deed. But it is not something, employees will preserve these certificates and can show or produce to someone so I suggest a verbal thanks giving will be much more effective as it will facilitate direct interaction with the Director.
1st December 2014 From India, Pune
Dear ___ ( Employee Name )
On behalf of the management and the family of Mr. _____ (deceased employee), our dear colleague who passed away recently, we wish to thank you for the concern and support extended during the recent bereavement.
Your solidarity and financial support will certainly go a long way in partially mitigating the pain of his family in their hour of grief. Your spontaneous gesture is much appreciated.
Do continue to remember him in your prayers.
Name of the MD / Signatory
I hope the above draft will help you in your endevour to thank all those who stood by the deceased employees family in their time of grief.
1st December 2014 From India, Mumbai
4th December 2014 From India, Mohali