Jamshedpur-based Tata Steel has announced a social security scheme for its employees, under which the nearest kin of an employee, who dies due to Covid, will get the last drawn salary till 60 years of age along with other benefits.
Apart from this, for all the employees who died of COVID-19, Tata Steel would also bear "all the expenses of their children's education till graduation in India".
"Tata Steel's best-in-class social security schemes will help ensure an honourable standard of living for their families, whereby the family will get the last drawn salary till 60 years of the age of the deceased employee/nominee along with medical benefits and housing facilities," announced the company in a statement, as reported by The New Indian Express.
The statement further mentioned that the Tata Steel family stands stoically with its entire people, committed to their security and well-being during such difficult times.
It is the latest major employer in the country to announce financial support plans for the families of its workers that have died due to COVID-19.
Last week, hospitality group Oyo Rooms said that it would help the families of its workers who have died of the coronavirus in a number of ways, including eight months' pay and support for their children's education for five years.
The announcements come as India is reeling from the loss of lives and the economic impact that it follows. In this week, India became only the third country in the world to record more than 300,000 deaths - after the US and Brazil.