Mankind Pharma rolls out Covid Protection Policy to help families of deceased employees
Mankind Pharma, a leading pharmaceutical company in India, has rolled out a COVID protection policy to support the families of its employees.
The company said in a statement that with the launch of this new policy we intend to support the families of our employees amid the second wave of the coronavirus pandemic.
Mankind Pharma will contribute an amount equivalent to five years of the last drawn gross annual salary to the dependents of the deceased employee with a maximum limit of Rs 50 lakh, said in a statement.
The company also said that each employee would be covered under the Employee Deposit Link Insurance (EDLI) scheme and the legal nominees will be paid up to an amount of Rs 7 lakh in case of death of the employee.
Furthermore, the company will continue to provide medical cover to the dependents of the employee registered in the Group Mediclaim Policy for three years post the demise of the employee, it added.
Mankind Pharma Executive Chairman R C Juneja said: “We hope that passing these cumulative supports will help the bereaved family members of the deceased employee to overcome the financial burden. The company is committed to its employees and considers them as its assets and intends to take care of them in all possible ways,”
The policy has already come into effect, he noted.
The company employs around 14,000 people. It markets various brands across pharma and over the counter segments.
Mankind Pharma has a presence in therapeutic segments such as cardiovascular, antibiotics, gastrointestinal and also sells OTC brands like Manforce Condoms, Manforce Tablets, Manforce Staylong Gel, Unwanted 72, Prega News, Gas-O-Fast, among others. With PTI Inputs