Kotak announces benevolent policy for Employees, families
Kotak Mahindra Group has announced a Pandemic Benevolent Policy for over 73,000 employees, under which, family members/nominees of employees who die within the time period April 1, 2020 and March 31, 2022, will receive full monthly fixed salary (cost to company) for two years beginning June 2021. Further, this policy is applicable to families/nominees of all deceased employees, irrespective of the cause of death — whether pertaining to Covid-19 or any other unrelated cause.
Family members/nominee of deceased employees eligible for annual bonus will also receive the annual year-end bonus for financial year 2020-21. In addition, Kotak’s Mediclaim Insurance will cover the spouse and minor children of the deceased employee for financial year 2021-22.
To help and support employees across the country in their fight against the pandemic, Kotak has put in place a series of emergency measures including tie-ups for medical emergency response services, isolation facilities, telemedicine services, financial assistance for medical expenses as well as formation of internal volunteer teams across the country, to assist employees and their families with critical resources. Kotak is also striving to vaccinate all employees and their family members quickly, to win the fight against the virus.