Atlas Copco introduces special Covid-19 financial aid scheme for deceased employees
Atlas Copco - a leader in compressors, vacuum solutions, generators, pumps, power tools and assembly systems, has announced a special financial aid scheme for its employees that will support families of those employees who have passed away due to Covid-19. The scheme is applicable to all Atlas Copco on-roll employees retrospectively from April 1, 2021. In addition to the benefits, dependent/s of deceased employees will be entitled to have other terminal benefits like insurance benefits in which sum insured is three times of CTC (cost-to-company).
Through this initiative, Atlas Copco aims to provide some financial aid to the grieving families and to ensure safety and wellbeing of their people as it is vital part of their people strategy. Benefits include:
- Payment of monthly salary (100%) for 24 months
- One-time payment of Rs 10,00,000 as education assistance for children of deceased employee
- Extension of medical insurance for 60 months for the dependents
Frans Niekerk, Managing Director, Atlas Copco India said 鈥淭oday, the entire world is facing unprecedented challenges due to the pandemic and for the world around us, empathy is more important than ever. We at Atlas Copco India are also impacted by the situation around, but our effort is to limit the impact as we are committed to ensure safety and wellbeing of our people.鈥�
Kabir Gaikwad, Head Corporate HR said 鈥淏eing optimistic and compassionate increases wellness and human connect. As a demonstration of collaborative spirit, we have introduced special financial aid scheme to support to the families of employees who lost their life while battling with Covid 19.鈥�
Covid-19 has exposed the whole organization to a new and different reality with increased focus on safety and well-being. To support both managers and employees during these difficult times, Atlas Copco India has also launched toolkits covering support material and learning on topics such as leading from a distance, maintaining emotional well-being as well as building resilience in times of change and uncertainty. All factories and offices have deployed multiple strategies like testing camps at regular intervals, fumigation and sanitization of workplace to combat Covid 19.
About Atlas Copco Group: Great ideas accelerate innovation. At Atlas Copco we have been turning industrial ideas into business-critical benefits since 1873. By listening to our customers and knowing their needs, we deliver value and innovate with the future in mind. Atlas Copco is based in Stockholm, Sweden with customers in more than 180 countries and about 37,000 employees.
Atlas Copco (India) Ltd. started operations in 1960, and has offices across India, the registered office being at Pune. Atlas Copco (India) had over 3 000 employees and revenues of about Rs 3000 crore as on March 31, 2020.
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