A plan is one such great employee retention tool which facilitates employers to fund their gratuity liability through good market-linked returns. This plan helps you to deliver long term results for your investments depending upon the performance of the funds chosen by you.
Features:
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Meet your obligations under the Payment of Gratuity Act 1972 with good market-linked returns
Pay low maintenance charges with good market-linked returns
Manage large scale gratuity payment effectively with complete assistance from the company
Benefits:
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Death Benefit -Payable on death provided the policy is in force
Maturity Benefit - Payable on retirement or resignation of a member from employment
Termination or Surrendering Benefits -On termination or surrendering the policy, your employee will receive the fund value at that time after deducting the applicable surrender charges.
Loyalty Additions -Additional benefits payable only in case the policy is in force
Eligibility:
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Minimum Contribution :
Rs. 500,000
Maximum Contribution :
No Limit , as per actuarial valuation AS-15(R)
Life Insurance Cover :
Fixed life insurance cover of Rs. 1,000 per member