Vedanta Limited on Monday announced an enhanced COVID cover for its employees, their families, and business partners. Vedanta has taken up employee-friendly initiatives to promote the health and safety of its people, especially during the current pandemic.
“Under the aegis of Vedanta Cares Covid relief initiatives, the company announces long-term HR benefits, on its commitment to ensuring the health and well-being of its people to include enhanced COVID insurance for its employees, their families, and business partners,” the company said in a statement.
Vedanta will provide Covid Kawach Insurance for their business partners that include term life and hospitalization and an ex- gratia amount of Rs 10 lakh to be paid to the family members of the deceased business partner employee, the statement said
Considering the fatalities due to COVID-19 and the recent black fungus epidemic the company is providing benefits for family members of the deceased employees in the form of continued payments of last drawn fixed salary till the notional date of retirement.
In continuation of mediclaim insurance coverage till the notional date of retirement and education assistance for two children till graduation. “Our group has today announced an additional ex gratia payment of 10 lakh each to the families of the deceased business partners apart from the other benefits, which is to protect the wellbeing of all our people and their families through these tough times.
Keeping the repercussions of the second wave in mind we are bolstering our efforts towards ensuring optimum protection for our people,” Vedanta Chairman Anil Agarwal said.
Vedanta Limited, a subsidiary of Vedanta Resources Limited, is one of the world’s leading diversified natural resource companies with business operations in India, South Africa, Namibia, and Australia. Vedanta is a leading producer of Oil & Gas, Zinc, Lead, Silver, Copper, Iron Ore, Steel, Aluminium & Power.
The company is listed on the Bombay Stock Exchange and the National Stock Exchange in India and has ADRs listed on the New York Stock Exchange. with PTI Inputs