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Dear Cite Members,I have formulated a simple idea, please shape it up with your valuable inputs.
Dear Venkat,This is the best posting I have ever seen because you have thought of something different. Keep it up.Thank you.
Sir,I have discussed the same with a few HR professionals. Following are two to three options available:1\. One day's salary from each employee, and the same amount is to be added by the management. For instance, if the employee's contribution is 2 lakhs, the co...
Dear All,There is no response…!! Am I asking for some confidential or irrelevant information...?? Please respond immediately.Regards, ACCHR
Dear All,I am with a USA-based MNC involved in engineering operations in India.Recently, our Indian CEO passed away after suffering a massive cardiac attack, which has been very shocking for the entire company at a global level.Since this is a relatively new ope...
Dear Datta,**Benevolent Fund**:**Objective:**To safe guard our employee’s family after his/ her passes away.**Process**:Every employee will contribute minimum 10/- or more (monthly) and management also makes equal contribution and on the death of an employee, an...
It is a continuous process; hence, the accumulated fund will be under fixed deposit with the nationalized bank. Whenever there is a requirement, it will be withdrawn and paid to the beneficiary.Additionally, if any employee who contributes to the benevolent fund...
Hi Friends,We have to implement a "Benevolent Fund" in our organization. Basically, a Trust is to be formed, and the exemption from the Commissioner of Income Tax has to be sought. Thereupon, the Accounting part is also to be managed/handled. Does any one of you...
This is indeed a very good welfare scheme. There are two methods of doing this. One is to make a standard contribution of, say, Rs. 50 per month (to be decided based on the average number of deaths in the last 3-5 years, the capacity of members to pay, the propo...
Dear CiteHR Senior Members,BENEVOLENT FUND / ADARSHA NIDHI -It is a Welfare Fund contributed by both the employees & the Company to help the Family/Nominee of a Deceased Employee. When all other Benefits take time to reach the Dependent/Nominee of the deceased e...