How Do Companies Handle Expenses Beyond Employee Welfare Fund Coverage?

Dear All,

Kindly note, I am working as an Asst. Manager HR in an IT hardware networking company. This is in reference to my query regarding the policy for the "employee welfare fund." We have taken personal accident and mediclaim for our employees, and of course, those who are eligible for ESIC are covered under the same. But what if, in the case of an accident or disease, the expenses increase beyond the policy coverage? What are the practices generally followed to cope with this kind of situation?

Thank you.

Regards,
Shweta Mehta

Dear All,

Even I am working on something similar. I would like to know the companies that have such a fund and how it is managed. What are the contributions made and for what purposes is it used? Also, would it be possible to loan an employee from this fund?

Thanks & Regards,
Sweta