Alembic announces upto 50 lakhs of financial aide for deceased Employees due to Covid 19

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Alembic Pharmaceuticals Ltd has announced Financial Aid of  between  15 lakhs to 50 lakhs to their deceased employees, which is over and above all other benefits applicable.

From Left Mr. Shaunak Amin and Mr. Pranav Amin ,Managing Directors, Alembic Pharmaceuticals Ltd.

When it Comes to Employee welfare with Alembic Pharmaceuticals Ltd it is not just the employer but also the employees who have started a Benevolent Fund and are contributing generously for their departed team members who passed in this second wave of covid.

We are deeply saddened with the loss of some of our family members due to the Covid-19 pandemic. The company has decided to support the bereaved family members with financial assistance apart from the existing benefits. We have announced financial aid of minimum Rs.15 Lacs maximum upto Rs.50 Lacs for the deceased team members’ family. While we cannot compensate for the loss suffered by the families, it is our hope that this benefit will help them to rebuild their lives.

Pranav Amin, M.D. Alembic Pharmaceuticals Ltd.

The Management of the 114 year old Alembic Pharmaceuticals Ltd has announced Financial Aid of  between  15 lakhs to 50 lakhs to their deceased employees, which is over and above all other benefits applicable. Talking to the media, Mr. Pranav Amin, Managing Director of Alembic Pharmaceuticals said that, the company has always fostered the feeling of Alembic Parivaar. We are deeply saddened with the loss of some of our family members due to the Covid-19 pandemic. The company has decided to support the bereaved family members with financial assistance apart from the existing benefits. We have announced financial aid of minimum Rs.15 Lacs maximum upto Rs.50 Lacs for the deceased team members’ family. While we cannot compensate for the loss suffered by the families, it is our hope that this benefit will help them to rebuild their lives. As we remain committed to the safety and wellbeing of our employees and their families, I strongly urge everyone to take utmost precaution and safeguard themselves.

Seeing the gesture initiated by the company, the employees of Alembic group have also come forward and formed an Employee Benevolent Fund, where employees are contributing in the form of either cash or their earned leaves for the team members they have lost. Employees have contributed towards  the benevolent fund for individual employees who have passed away due to Covid-19. Employees are generously supporting all, irrespective of whether they know the deceased member or not and irrespective of the professional level of their colleague. These contributions are voluntary and discreet. The funds are accumulated and directly transferred to the legal heirs.

Talking to media ,the HR spokesperson confirmed that  the organisation has added a Covid-19 cover for all employees, in addition to the existing mediclaim policy, the cost for which is borne by the company. Also, in the unfortunate event of an employee losing his life, the company’s Financial Aid is a major solace, which is in addition to the EDLI of around 7L, gratuity which is calculated upto the retirement date of 58years, contributions from the Benevolent Fund, plus other statutory benefits.

To give a broad idea, bereaved family of a  junior employee on an annual salary of around 3L, will also receive as per the above benefits offered, anything between 25 – 30 L.

This is a testing time for everyone. Many of the staff have been personally impacted by the pandemic and/or have had their family members getting impacted.

Some of the staff have even had to bear personal losses/ loss of fellow colleagues.

During such times, it is only natural to occasionally feel a little low. Due to the same Alembic has engaged a clinical psychologist, whom all Alembians can reach out to, should the employees feel the need. The psychologist has special experience in supporting individuals with stress, anxiety, depression, grief and bereavement related concerns. The psychologist has been requested by the company to keep the discussions and calls confidential. The psychologist shouldn’t share name or any details with the company management too. The psychologist can be contacted all 7 days of the week between 08am to 9pm.

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