Tata Motors will pay 50 percent of the basic salary every month to the family of employees who succumbed to COVID-19 till the age of retirement. The payment will be in addition to a one-time payout the family gets as immediate relief.
Speaking to Moneycontrol, PB Balaji, Chief Financial Officer, Tata Motors, said, “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.”
Tata Motors has so far lost 47 employees to COVID-19 since the start of the pandemic last year. The company is one of the biggest employers in the automotive space in India running multiple plants that make cars, SUVs, vans, mini trucks, medium and heavy-duty trucks and buses.
“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 on the sidelines of announcing the March quarter financial results.
The Mumbai-based automaker is one of the few companies to have rolled out an employee-centric COVID-19 financial benefit scheme to the families of the deceased.
Earlier in May Bajaj Auto said it would continue to pay salary for two years to the family of the employee who died due to COVID-19 as well as fund the education of the children of the deceased.
The two-wheeler maker said in a Linkedin post: “Payment of monthly salary of up to Rs 2 lakh per month for 24 months, education assistance for a maximum of two children of Rs 1 lakh per child per annum up to 12th standard and Rs 5 lakh per annum per child for graduation will be offered under the assistance policy.”
Chennai-based TVS Motor Company said it will pay up to three times the gross annual salary to the family of the employee who dies due to COVID-19 as well as fund the education of his/her children up to under-graduation.
The ex-gratia is in addition to the standard TVS Motor Company Family Welfare Fund and other statutory benefits applicable to deceased employees and their families.
(Edited by: By Aditi Gautam)
First Published: IST