Mahindra and Mahindra announces a host of financial aid for the families of its staff. The Covid-19 is taking a toll on the people’s mental strength, and thus to counter this, M&M launched a slew of measures for its employees. According to the letter sent to all its employees, the company mentioned a new family assistance programme. The company mentioned that this family assistance program aims to lighten the burden of its employees in these uncertain periods. A total of over 25,000 M&M employees will benefit from this family assistance programme.
This family assistance policy will entitle the family to receive a paid salary for the next five years along with a one-time payment of twice the annual compensation, in case any of its staff succumb to Covid-19. The spouse or the dependents of the deceased employee will receive the salary adhering to the defined guidelines. M&M will also support the education expense of the deceased’s children. The company will pay for the children’s education till Class XII to provide up to 2 lakh per annum per child.
Since the pandemic, the company initiated many Covid-19 related programs to help bring back normalcy. The company mentioned that almost 100 per cent of its employees aged 45 years and above are done with their vaccination. The automotive firm is working with multiple hospitals to set up Covid-19 vaccination centre across the country. For quick and prompt response, M&M has made available 27 doctors across India. This will ensure that all its employees will get seamless access to all the resources in an emergency. The company will also arrange for RT-PCR and antigen tests on priority for the employees.
In case of hospitalisation, the company will bear the entire expense. The company will also provide INR 1,000 per day as an allowance towards miscellaneous costs. M&M will also bear the full expense of the hospitalisation and quarantine for the employee’s immediate family members. To support its dealers and their employees, the company will cover their vaccination expenses, provide medical insurance and more. In case of the unfortunate death of a dealership employee, a sum of 5 lakh will be provided to the family.