Welfare of Family of Deceased Employees

Objective:

Human resources are an important asset for an organisation. An Employee in the Ganpat University is not mere an employee but is a family member as per the philosophy of University. If A member of family passes away suddenly, it is an irreparable loss for the family and specially when he or she is earning member of the family it brings a situation of deadlock and has crucial impact on the lifestyle of the family. Ganpat University consider the family members of the employee as their family member only and firmly believes in taking care of basic necessities of the family in absence of the loss they suffered.

This policy has been framed keeping in view the above objective of taking care of family members of deceased employee.

Effective Date:

The policy shall come into effect from 1st April 2020 and shall be reviewed again on 31/03/2022.

Beneficiary under this Policy:

1. Spouse of the employee and minor child/children of the employee

2. In absence of spouse, non earning dependent parents of the employee

3. In absence of spouse and non earning dependent parents of the employee, non earning dependent major children of employee upto the age of 25 years.

Proposed Support under this Policy:

1. The last gross salary drawn by the deceased employee will be paid for two years from the date of death of the employee in the following manner:

50 % of the salary will be credited in the beneficiary’s bank account for the maintenance expense of the family, in case where the age of the child / children of the deceased employee is more than 21 year 100% of the salary will be credited into beneficiary’s bank account.

Remaining 50% of the salary will be transferred to deceased employee’s child welfare fund to be maintained by the University and be invested in separate fixed Deposit for the purpose. This fund will be utilized towards the educational, medical or any other emergency requirement for the future of the child/children of the deceased employee.