Lmp|oyer Lmp|oyee Lmp|oyer Lmp|oyee

Insurance Insurance
Lmployer Lmployee lnsurance ť Lmployer Lmployee lnsurance ť
Lmployer sponsored frlnge beneflLs are a valuable
parL of a workerƌs compensaLlonŦ
As Lhe name suggesLsţ here lnsurance plan ls Laken
by Lhe employer ln Lhe name of lLs employees wlLh
Lhe ob[ecLlve of provldlng addlLlonal beneflLs ln
order Lo reLaln Lhe servlces of Lhe experlenced sLaffŦ
eneflLs of Lmployer Lmployee lnsurance eneflLs of Lmployer Lmployee lnsurance
eneflLs Lo Lmployers eneflLs Lo Lmployers
W 1hls ls employer sponsored frlnge beneflL whlch ls valuable parL of
compensaLlonŦ
W Llfe and healLh boLh can be covered ln one planŦ
W ln Lhe evenL of any unforLunaLe demlse or dlsablllLy Lhe employer can pay
money ouL of Lhe clalm recelved from Lhe lnsurance company lnsLead of
company's accounLŦ
W 1hey become aLLracLlve array of beneflLs as lncenLlves Lo recrulL and reLaln
quallfled employeesŦ
W lL helps ln creaLlng employer's loyalLyŦ
W 1hls makes Lhe employer more aLLracLlve ln Lhe lncreaslngly compeLlLlve
markeL for quallLy peopleŦ
W Lmp|oyer a|so en[oys tax rebate on the prem|um pa|dŦ
eneflLs Lo Lmployers eneflLs Lo Lmployers
W 1hey provlde workers wlLh long and shorLŴLerm securlLy
agalnsL premaLure deaLhţ lllness and accldenL and Lhey offer a
sense of lelsure as well as a measure of freedom from worry
aL reLlremenLŦ
W Lmployee/nomlnee geLs clalm ln Lhe evenL of ueaLhţ lllnessţ
dlsablllLyŦ
W ln addlLlon Lo beneflLs from Lhe company on reLlremenLţ
maLurlLy clalm from lnsurance also comes Lo LhemŦ
W Lmployees are safe from Lhe boLheraLlon of buylng and
admlnlsLerlng Lhese plansŦ
W 1hey also resulL ln Lax free lncome Lo Lhe employeesŦ
cheme 8 Ŷ Dnder Lhls scheme Lhe employer ls Lhe proposer
and owner of Lhe pollcy and employee ls Lhe llfe lnsuredŦ
ln Lhls case Lhe employer reLalns Lhe rlghL Lo asslgn Lhe beneflLs
of Lhe pollcy on hls reLlremenL or reslgnaLlon from Lhe
companyŦ
Adm|n|strat|ve kequ|rements Ŷ AppllcaLlon form Lo be
slgned boLh by Lhe employer and employeeŦ
Age proofţ lncome proofţ resldenLlal proof and speclal reporLs lf
any Lo be aLLached for Lhe llfe lnsured lŦeŦţ employee ln Lhls
caseŦ
non ConLrlbuLory Þlans non ConLrlbuLory Þlans
1ax LllglblllLy 1ax LllglblllLy
1Ŧ Þremlum pald by Lhe employers are Laken
as buslness expense and ls Lhus Lax freeŦ
2Ŧ 1he employees pay no Lax on maLurlLy u/s
10ż 10(u)Ž
3Ŧ Þremlum pald by employer ls consldered as
a perqulslLe for employee hence LaxableŦ
uocumenLs requlred
W AppllcaLlon form and AsslgnmenL form slgned and sLamped
by Lhe employer ln Lhe space meanL for Lhe proposerŦ
W Age proof of Lhe Þerson Lo be lnsuredŦ
W k?C requlremenLs as appllcableť of Lhe respecLlve enLlLlesţ
as menLloned aboveŦ
W CerLlflcaLe sLaLlng Lhe uaLe of lncorporaLlonŦ
W Address of Lhe company vla leLLer on company's leLLerhead
or any oLher documenL conveylng Lhe sameŦ
W urafL of oard 8esoluLlon on Company's leLLerhead
W 8ules of Scheme on Company's leLLerhead
Þollcy Level 8esLrlcLlons ť Þollcy Level 8esLrlcLlons ť
1Ŧ All plans and rlders are allowedŦ
2Ŧ lurLher asslgnmenL by employee ls noL allowedŦ
3Ŧ Lmployee should noL hold more Lhan 3 Ʒ sLakes ln Lhe
companyŦ
1PAnk ?CD 1PAnk ?CD

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