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STAFF WELFARE SCHEMES OF THE BANK

 

 

 

1.                  MEMENTO TO EMPLOYEES ON RETIREMENT : All the employees who retire upon attaining the age of  superannuation  after putting in 15 years of service are given a token gift of Rs. 2000/- w..e.f. 19.4.2000 and in his honour a farewell is also organized at the office of his posting to which bank contributes Rs. 5/- per employee.

 

The extant scheme for providing memento to the employees on retirement have been circulated vide PD Circular No. 1719 dated 26.4.2000.

 

2.                  SCHOLARSHIP SCHEME TO PROVIDE FINANCIAL ASSISTANCE TO ONE TALENTED CHILD OF THE EMPLOYEE :    The Scheme provides that financial assistance to one talented child of subordinate staff for graduation/one  talented child of award/officer staff by way of reimbursement for Graduation or Post Graduation in Medicine, Engineering, Architecture, Agriculture, Computer and Post Graduation in Management and Post Graduation Diploma of two years in the Management from any recognized University and/or from an Institution recognized by All India Council for Technical Education including Chartered Accountancy, subject to the terms and conditions prescribed in the Scheme.  The financial assistance in respect of Graduation is subject to maximum limit of Rs. 2000/- p.a. and in respect of technical education, the amount has been restricted to Rs. 3500/- p.a. for one child of an employee.  The Scheme has been introduced from the academic session 1999-2000.  The benefit of the Scholarship Scheme is available to all employees of the bank irrespective of the cadre.

 

The detailed guidelines in this regard have been circulated vide PD Circular No. 1731 dated 6.6.2000.

 

      3.        FINANCIAL COMPENSATION TO THE FAMILY OF AN EMPLOYEE    WHO DIES WHILE IN SERVICE OF THE BANK :

 

In order to provide immediate financial assistance to the family of the employee who dies while in the service, the Bank provides the following ex-gratia amounts w.e.f. 1.4.98:-

 

S.No.

Cadre

Amount of Ex-gratia payable

1.

Subordinate Cadre

Rs. 15,000/-

2.

Clerical Cadre

Rs. 24,000/-

3.

Officer Cadre

Rs. 45,000/-

 

 

There is also provision to make lump sum payment of Rs. 5000/- to the family of the employee who dies while in the service of the Bank to meet the immediate expenses relating to funeral and other religious rituals. 

 

The guidelines in this regard have been circulated vide PD Circular No. 1634 dated 22.8.98 & 1635 dated 28.8.98.

 

4.       SILVER JUBILE AWARD :  In order to recognize the long service put in                     by the employees, the Bank has a Scheme to honor the employees on completion of 25 years of unblemished service by giving a memento in the form of an article like Wristwatches, Silver Salver or any other article of the employee’s choice of the value no exceeding Rs. 2000/-.  The Scheme also provides that the honor is to be bestowed upon an employee in a simple function at the branch/office during which light refreshment is also to be served towards which the bank contributes Rs. 5/- per employee at the said office.

 

The extant guidelines in respect of the aforesaid Scheme have been circulated vide PD Circular No. 1763 dated 8.12.2000. 1432 dated 28.6.94 and PD Circular No. 1512 dated 21.8.95.

 

 

5.      HOLIDAY HOMES :  The Bank has holiday homes at various stations throughout the country to provide accommodation  to the employee including retired employees and their family at reasonable charges of Rs. 50/- per day per room.  Presently the bank has holidays homes at the following centers :

 

a.       Agra

b.      Dalhousie

c.       Darjeeling

d.      Delhi

e.       Goa

f.        Jaipur

g.       Kanyakumari

h.       Mahabaleshwar

i.         Manali

j.        Mount Abu

k.      Mussoorie

l.         Nainital

m.     Ooty

n.       Panchmari

o.      Rajgir

p.      Shimla

q.      Udaipur

 

In terms of the Scheme an employee including a retired employee can request for allotment of a room at any of the3 aforesaid holiday homes for the period not less than 3 days  and not more than 2 weeks,  restricting to one week during the months of April to July.

 

The detailed guidelines have been circulated vide PD Circular No. 786 dated 2.8.84, PD Circular No. 1538 dated 8.4.96 and PD Circular No 1707 dated 9.3.2000.

 

6.      LIBRARY FACILITIES AT THE BRANCHES/OFFICE :  The Scheme provides for the library facilities at the branches/offices to enrich the functional knowledge and skill of the employees and also to enable the employees to prepared for examinations of CAIIB and internal promo motions.  The limits for purchase of books and economic and Banking journals have been as under:

 

Class of Branch

Value of books per

Calendar year

Value of Journals per Half year i.e. 1st Jan. to 30th June and 1st July to 31st December

Exceptionally/very large

Rs. 1240/-

Rs. 125/-

Large

Rs. 950/-

Rs. 90/-

Medium

Rs. 625/-

Rs. 60/-

Small

Rs. 350/-

Rs. 30/-

 

The above limits of expenditure are in addition to the dailies and light journals as permitted by the Regional Manager. 

 

The guidelines of the Scheme have been circulated vide PD Circular No. 938 dated 15.51986.

 

7.      CANTEEN FACILITIES FOR THE STAFF : The Bank is providing the canteen facilities to the employees at all the offices of the Bank.  In terms of the Scheme the Bank provides :-

 

        Cash subsidy at the rate of Rs. 60/- per employee per month at the branches/offices situated at Metropolitan and Urban centers and Rs. 50/- per employee per month at the offices/branches situated at Semi-urban and Rural areas w.e.f. 1.8.1998.

 

        Free electricity/kerosene oil/fuel expenses for running the canteen.

 

The guidelines pertaining to the scheme for providing canteen facilities at the branches/offices have been circulated vide PDCL No. 1798 dated 28.8.98.

 

8.      FACILITY OF PART-TIME MEDICAL CONSULTANTS:  The Bank has appointed the Part time Medical Consultants at Regional Headquarters/ Zonal Headquarters, State Capitals and at Head Office level in order to enable the employees to have free medical consultation for self and family members.

 

9.      SCHEME FOR ADJUSTMENT OF OUTSTANDING OF HOUSE

BUILDING LOAN IN THE EVENT OF DEATH OF AN EMPLOYEE WHILE IN SERVICE :

           

The Scheme provides of adjustment of outstanding of house building loan taken by an employee in the event of his death while in the service of the bank to the extent of 50 per cent of the outstanding housing loan as on the date of death of the employee OR Rs. 2 Lacs whichever is less.

 

The above Scheme has been introduced on experimental basis to cover the death of the employees form 1.4.2000 to 31.3.2001.

 

10.       PNB Employees Contributory Benevolent Fund Scheme:  The scheme has been introduced with an object to provide immediate financial assistance to the family members of the deceased employee to enable them to tide over the financial hardship resulting from the death of the employees.  In terms of the scheme, member employee is required to make half yearly contribution at rate of Rs.60 in Jan. and July each year.  In case of unfortunate death of a member employee while in the service of the bank, a sum of Rs.40000 is immediately provided to the family of the deceased employee, out of the said Fund. 

 

The detailed guidelines have been circulated vide PD Circular No.1429 dated 10.6.94.

 

11.       PNB Hospitalisation Contributory scheme for Officers:

 

The Scheme provides reimbursement of expenses incurred on treatment taken under Allopathy, Ayurvedic, Homeopathy systems of medicines for any illness, disease or bodily injury.  It also provides for reimbursement of package charge expenses on certain specified surgical procedures.  The facility is available for self and family(i.e. spouse, wholly dependent children and wholly dependent parents) in additional to the reimbursement facility available under Officers Service Regulations.  It also provides for medical checks up facility to the members and their spouse who are more than 40 years of age.

Officers desirous of becoming members of the scheme shall have to remit annual subscription of Rs.300 payable latest by 28th Feb.every year.  At present, the maximum annual reimbursement limit under the Scheme is Rs.20000.

 

The detailed guidelines have been circulated vide PD Circular Letter no.6/94 dated 29.1.94, 16/98 dated 14.8.98 and 20/2000 dated 7.7.2000, PD Circular no.1473 dated 30.1.95 and PD Circular no.1620 dated 15.5.98.

 

12.       PNB Employees Relief Fund

 

The Scheme provides help and succor to the employees who need urgent help for costly medical treatment in respect of self/spouse and minor children for which either limited or no reimbursement is available in terms of the existing rules and the scheme also provides for financial assistance to the facilities of the employees in case of their premature  death while in service.  In terms of the Scheme, the extent of financial assistance provides is as under :

 

Treatment of self/spouse

Upto Rs.40000/-

Treatment of minor children

Upto Rs.10000/-

Death of member employee

Upto Rs.20000/-

 

Any employee of the bank can become a member of the scheme by making a request on the proforma prescribed and on payment of the contribution at the following rates:

 

Rs.30 per half year

Officers

Rs.18 per half year

Clerks

Rs.12 per half year

Sub staff

 

  The detailed guidelines have been circulated vide PD Circular No.1597 dated 6.11.97.

 

         13.        Self Financed Group Insurance Scheme for Award Staff:

 

The Bank has taken group personal accident insurance policy on behalf of the member employee from National Insurance Company Ltd. For the period of one year w.e.f. 1.1.2001 to cover the death due to an accident or permanent total disablement due to accident etc. against the premium of Rs.50 per annum per employee.

The scope of coverage and the sum insured in terms of the said policy is as under:

 

 

S.No.

Scope of Cover

Sum Insured

1.

Death due to accident

Rs.1,40,000/-

2.

Permanent total disablement due to accident

Rs.1,40,000/-

3.

Loss of one eye or one limb

Rs.70,000/-

4.

Loss of two limbs or one eye and one limb or two eyes

Rs.1,40,000/-

5.

For carriage of dead body of the insured person to the place of residence

Rs.1000/-

 

 

The scheme has been circulated vide HRD Circular No.1 dated 5.1.2001.

 

         14.        Self Financed Group Insurance Scheme for Officers:

 

The Bank has taken group personal accidence insurance policy on behalf of the member Officer employees from M/S National Insurance Co. Limited for the period of one year w.e.f. 01.07.2001 to cover the death due to an accident or permanent total disablement due to accident etc.  The premium to be deducted from the salary of the Officer is Rs.50 per annum.

The scope of coverage and the sum insured in terms of the said policy is as under :

 

S.No.

Scope of cover

Sum Insured

1.

Death due to accident

Rs.1,25,000/-

2.

Permanent total disablement due to accident

Rs.1,25,000/-

 

The detailed scheme has been circulated vide HRD Division Circular No.1735 dated 09.07.2001 which also includes payment of compensation in some of the cases in partial disability.

 

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