Dear CiteHR Senior Members.
BENEVOLANT FUND / ADARSHA NIDHI-
It is a Welfare Fund contributed by both the employees & the Company to help Family/Nominee of a Deceased Employee. When all other Benefits takes time to reach the Dependent/ Nominee of the deceased employee; part of this Fund (say Rs. 10-30,000 is released to them same day of the incident to take care of immediate Expenses.
This Scheme would be a great help & employees will feel a sense of belonging. Many Central Govt. Cos. have this Scheme whereas; it is not available in many Pvt.Cos. It is not clear if there is any specific reason for HR not introducing this Scheme in many Cos. Since lot of employees work in Pvt.Cos. & incidents of death is also there including accidental death outside the Co.premises; in which case Co. may not extend help as obliged to do in case of on duty accidental death; implementing such Welfare Scheme in Cos. where min.100 employees are working; can give immediate help to the Family members / Relatives of the deceased at a critical time.
If the employee is covered under ESI; then; in case of Death, ESI will pay Rs.10,000 towards Funeral expenses. Some Companies also pays Funeral expenses.
Request; Senior Members to give suggestions, comments about HR introducing the Benevolant / Adarsh Nidhi Fund as a Welfare Scheme in Pvt. Cos
HR Consultant, Hospet 4.2.18 4th February 2018 From India, Mumbai