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Muthoot Finance to support families of employees who died of COVID-19

Muthoot Finance has announced a new welfare scheme for its employees that will support the families of those employees who have passed away due to COVID-19.

The decision from the company comes at a time when India is reporting record-high numbers of daily cases and deaths due to the coronavirus pandemic. India recorded over 4.12 lakh new cases and 3,980 deaths in the last 24 hours.

The new scheme will aid those who are affected by the death of their son or spouse due to COVID-19.  The move aims to provide some financial aid to the grieving families.

Muthoot would pay a monthly salary for the next 24 months to the spouse or mother of the deceased employee if they had completed 3 or more years of service. In cases where the employee had not completed 3 years of service, a monthly salary will still be paid but for a period of 12 months.

For contractual employees, the company has announced 12 months’ monthly salary regardless of actual time spent with the company.  The company will also give a one-time payment to the dependents or family of the deceased employee, in addition to the above benefits.

Muthoot Finance has taken active steps in order to promote the well-being of its employees in these turbulent times. Apart from support for the families of deceased employees, the company is also encouraging its workers to get vaccinated against COVID-19. The company provides full reimbursement for the vaccination of employees and their dependents, all they have to provide is a copy of the vaccination certificate.