Dear All,
I am with a USA-based MNC involved in engineering operations in India.
Recently, our Indian CEO passed away after suffering a massive cardiac attack, which has been very shocking for the entire company at a global level.
Since this is a relatively new operation in India, policies like Death Benevolent/Retiral benefits are yet to be formulated. With this shocking incident, the USA management is eager to understand the good policies/practices prevailing in India to extend help to the deceased family in their hour of crisis.
In this context, I am looking forward to responses from fellow colleagues who can share their company's policies, which will help me define our policy.
Please treat this as most urgent as I need to respond to them by this evening.
Regards, ACCHR
From India, Mumbai
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1I am with a USA-based MNC involved in engineering operations in India.
Recently, our Indian CEO passed away after suffering a massive cardiac attack, which has been very shocking for the entire company at a global level.
Since this is a relatively new operation in India, policies like Death Benevolent/Retiral benefits are yet to be formulated. With this shocking incident, the USA management is eager to understand the good policies/practices prevailing in India to extend help to the deceased family in their hour of crisis.
In this context, I am looking forward to responses from fellow colleagues who can share their company's policies, which will help me define our policy.
Please treat this as most urgent as I need to respond to them by this evening.
Regards, ACCHR
From India, Mumbai
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Sir,
I have discussed the same with a few HR professionals. Following are two to three options available:
1. One day's salary from each employee, and the same amount is to be added by the management. For instance, if the employee's contribution is 2 lakhs, the company should add an equal amount, totaling 4 lakhs to be given to the family (a practice followed in leading MNCs).
2. A fixed amount, for example, 200/- from each employee and 3 lakhs from the management, with the total amount to be given to the family (a practice followed in a leading Indian bearing manufacturing company).
Regards,
NT
From India, Ahmadabad
Acknowledge(0)Amend(0)
I have discussed the same with a few HR professionals. Following are two to three options available:
1. One day's salary from each employee, and the same amount is to be added by the management. For instance, if the employee's contribution is 2 lakhs, the company should add an equal amount, totaling 4 lakhs to be given to the family (a practice followed in leading MNCs).
2. A fixed amount, for example, 200/- from each employee and 3 lakhs from the management, with the total amount to be given to the family (a practice followed in a leading Indian bearing manufacturing company).
Regards,
NT
From India, Ahmadabad
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HR Trends - Global HR practices.doc