Walmart-owned Flipkart has announced a slew of initiatives for its work force across India. With the pandemic taking a toll, the company has revised its medical policy to include mental well-being and treatment, critical illness cover, lump sum payment over and above the medical cover in case of hospitalisation and critical illness for employees and their spouses.
The Indian e-commerce giant has also increased maternity leave limits and added advanced procedures under health insurance coverage. The advanced procedures include ayurvedic treatment, robotic surgeries, and IVF treatment.
Now, an employee can opt to increase their policy cover to include important aspects such as mental well-being and critical care for parents.
Further, there will also be a new bereavement policy effective from the last fiscal year, which covers all diseased employees irrespective of the cause of death.
In case of untimely demise of an employee, Flipkart will provide a life insurance cover to the family worth five times the deceased employee’s annual CTC. The 5X value would be worked on the last drawn salary. The family members will also get a notice period settlement as per the contract.
Transfer of ESOPs
Family members of any deceased employee will also be transferred the entitled ESOPs and also assist the members with professional and independent financial planners to guide the members to take the right decisions.
Education for Kids
Apart from the employees, the revised policy also covers the supply chain staff. The supply chain employees will not be charged the premium amount and the insurance cover will also include their family members for a period of five years.
Besides these benefits, education support for two children of the deceased employees of up to Rs 1.2 lakh per annum will be provided till they attain 22 years of age.
Furthermore, it intends to vaccinate all its employees in the next two months. They have covered the cost of vaccination for over 15,000 employees and their families up to five dependents.
(Edited by : Shoma)