Anonymous
Hi, My husband is one of the directors, shareholders, and employees of the private limited company. He expired on May 29th, 2021, due to covid. According to norms and laws how much can I expect as compensation from the company? Please suggest.

He was director and shareholder from July 2019. An employee from 2018 May. When he passed away he was 34 years. Let me know if any information needed
Thanks

From India, Bengaluru
Dear Madam,

What has happened with you is unfortunate. While expressing deep sorrow, let me try to give replies to the questions you have asked.

Your husband was an employee as well as an investor. The benefits will be different for each case and these are given below:

Benefits as an employee: -

a) Your husband was eligible to get the salary till his last working day. We do not know whether or not he was admitted to the hospital and for how many days. Furthermore, we also do not know how many days of balance leave he had. If the salary is not paid, then you may submit an application for the same. Additionally, you could be eligible to get the salary in lieu of the unavailed portion of the leave.

b) Did the company cover the employees under group insurance? If yes, then you are eligible to get the insurance benefits. With valid proof of being a legitimate heir, please approach the company for the same.

c) Gratuity: - If not submitted till now, then you can submit Form 1 under the provisions of the Gratuity Act. To educate yourself on eligibility to get the gratuity, you may click the following links:

https://www.zeebiz.com/personal-fina...late-it-122169

https://economictimes.indiatimes.com...7.cms?from=mdr

d) Claim for Provident Fund: - To check the eligibility, click the following link:

https://economictimes.indiatimes.com...1.cms?from=mdr

Benefits as an investor: -

e) Your husband was an investor. After his death, the shares should be transferred to your name. However, check the legal agreement and find out who has been made assignee. If the name of the assignee is not mentioned, then you may submit an application for the transfer of shares to your name.

Your husband was a senior management official. Did the company allot assets (like a laptop, computer, mobile phone etc.) to your husband? If yes, then have you returned the assets? If not, then you may return them and obtain a proper receipt.

By the way, if your husband was a shareholder in the company, then why the company staff has not told the above things? Once a nominee or a legitimate heir regains composure after the death of the kin, generally the HR professionals call the spouse to their office and educate him/her on post-death benefits. Why are you required to raise a query on the public forum 3.5 months after your spouse's death? Your query on this forum shows that there is something more than meets the eye. Anyway, it is a different matter altogether.

Other senior members may guide you on Gratuity and PF.

Thanks,

Dinesh Divekar

From India, Bangalore

If you are knowledgeable about any fact, resource or experience related to this topic - please add your views using the reply box below. For articles and copyrighted material please only cite the original source link. Each contribution will make this page a resource useful for everyone.

Please Login To Add Reply →






About Us Advertise Contact Us Testimonials
Privacy Policy Disclaimer Terms Of Service

All rights reserved @ 2022 CiteHRô

All Material Copyright And Trademarks Posted Held By Respective Owners.
Panel Selection For Threads Are Automated - Members Notified Via CiteMailer Server