Scribd Logo
Upload

Welcome to Scribd!

  • NTPC Social Security Benefits

    Uploaded by

    akshay mahajan
    536 views1 page
    NTPC provides several social security benefits to employees and their families upon the death of an employee. These include the Sneh Kiran Death Relief Scheme which provides Rs. 36 lakhs, the Economic Rehabilitation Scheme which provides 50% of last drawn salary until notional retirement age, and pension schemes. Other benefits include repayment of loans, medical coverage, retention of quarters, educational benefits, payment of leave balances, benevolent funds, liveries, and funeral expenses. Eligible dependents must submit required documents such as death certificates and EFT forms to receive these benefits.

    Original Description:

    Copyright

    © © All Rights Reserved

    Available Formats

    PDF, TXT or read online from Scribd

    Did you find this document useful?

    Is this content inappropriate?

    Report this Document
    NTPC provides several social security benefits to employees and their families upon the death of an employee. These include the Sneh Kiran Death Relief Scheme which provides Rs. 36 lakhs, the Economic Rehabilitation Scheme which provides 50% of last drawn salary until notional retirement age, and pension schemes. Other benefits include repayment of loans, medical coverage, retention of quarters, educational benefits, payment of leave balances, benevolent funds, liveries, and funeral expenses. Eligible dependents must submit required documents such as death certificates and EFT forms to receive these benefits.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    536 views1 page

    NTPC Social Security Benefits

    Uploaded by

    akshay mahajan
    NTPC provides several social security benefits to employees and their families upon the death of an employee. These include the Sneh Kiran Death Relief Scheme which provides Rs. 36 lakhs, the Economic Rehabilitation Scheme which provides 50% of last drawn salary until notional retirement age, and pension schemes. Other benefits include repayment of loans, medical coverage, retention of quarters, educational benefits, payment of leave balances, benevolent funds, liveries, and funeral expenses. Eligible dependents must submit required documents such as death certificates and EFT forms to receive these benefits.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
    of 1

    NTPC Social Security Benefits on Death of Emp.

    Particulars Benefits
    Rs. 36 Lakhs approx. with Rs. 200/- per employees contribution ( 50% down payment & With
    Sneh Kiran Death Relief Scheme
    remaining 50% annuity purchased thru LIC for monthly pension to nominee
    50% of last drawn BP+DA+SP paid every month till the Notional Date of Retirement (NDOR) with
    deposit back of PF (excluding VPF), Gratuity and Group Insurance amount ( Rs. 7.15 to Rs. 8
    Laks). The deposited amount of PF, Gratuity and GI will be returned to nominee without interest
    Economic Rehabilitation Scheme-ERS
    after attaining the age of Notional Date of Retirement. ERS can also be surrendered at any time till
    notional date of retirement & amount can be withdrawn.
    Only spouse or one of the children of the employee can be nominated as beneficiary.
    PF,VPF, Gratuity ( Rs. 20 Lakh max.) &
    To be paid to nominee if ERS is not opted
    Group Insurance ( Rs. 7.15 to Rs. 8 lakhs
    With available corpus in the employee account, annuity is purchased from LIC and monthly
    NTPC’s NDCPS & SCSB Pension
    pension is paid to nominee
    It is a Govt. Pension and in it, monthly pension is paid to spouse and 2 children below the age of
    Employee Pension Scheme –EPS 95
    25 years by RPFC.
    Repayment of Balance House Building Loan
    HBA LOAN repayment to be settled thru Insurance Policy taken by our company .
    taken from NTPC
    Repayment of Balance Education Loan
    Balance Education loan amount is waived off
    taken from NTPC
    Medical facilities extended to all eligible dependents as per MAT RULES till the Notional Date of
    Medical facility to all eligible dependents
    Retirement of employee.
    Quarter Retention in Project/Station Retention of company quarter to the family in NTPC Township of Project & Stations on normal
    Township HRR and Electricity Charges at par with serving employee.
    Extension of Educational Facilities to the existing school going children in Project/Station Schools
    Educational Facilities in Project Schools
    at par with NTPC Employees children
    Payment towards Leave balance Payment towards balance EL & HPL & SAL remaining in employee account to be made
    as per leave rules of the company.
    Benevolent Fund If member of any benevolent fund
    Liveries Payment against liveries will be made
    Funeral Expenses Rs. 15000/-

    Note:- All above benefits are applicable as on 11.05.21 and are subject to change as per Management discretion at any point of time.
    The following Documents by beneficiaries are required:
    1. EFT form authenticated by bank along with cancelled cheque , Copy of PAN & ADHAR
    2. Death Certificate
    3. In case of NTPC pension the passport size photo of beneficiary
    4. Forms

    You might also like