Tata Motors will pay a monthly allowance to families on the death of staff until retirement age, whether employee passing away due to COVID-19 or not
Tata Motors, an Indian multinational automotive manufacturing company has announced to pay 50 percent of the basic salary as allowance every month to the families on death of staff till the age of retirement.
Additionally, the deceased employees’ families will also get a One-Time Payout as immediate relief, the company said in a statement.
Commenting on the COVID-19 relief measures, PB Balaji, CFO of Tata Motors, said to media, “Regardless of the employee passing away due to COVID-19 or not the family gets a one-time payment of 20 months’ basic salary and a monthly allowance of 50 percent of basic till the superannuation date of the employee. One would not expect anything less than that from a Tata company.”
“About 47 employees of Tata Motors have lost their lives battling COVID-19 since last year when the pandemic started in 2020. Currently, more than 90 percent of our employees above 45 years are vaccinated. We are also offering access to employees to medical care. We also have a comprehensive insurance scheme for our employees and their dependents,” Balaji added
Earlier this month, Bajaj Auto, an Indian multinational two-wheeler and three-wheeler manufacturing company extended some benefits to families of employees who lost their lives battling with COVID-19.
Bajaj Auto to pay a monthly salary up to ₹2 Lakhs p.m. for 24 months, Education Assistance – ₹1 Lakh per child p.a. up to 12th std. & ₹5 Lakhs p.a. per child for graduation. (Max. 2 children) and Extension of Medical Insurance for 60 months for the dependents.
Mahindra & Mahindra (M&M) has also announced to pay salary for the next five years besides a one-time payment of twice the annual compensation to families of staff succumbing to Covid-19 under a family assistance program.
