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Eligible employees will be able to tap on grants for severe cases such as domestic violence support and pet emergencies, as well as advance & EMI schemes for less urgent needs.
Indian autotech platform CARS24 has introduced a new policy that is aimed at creating what it calls a real support system at the workplace.
Known as the CARS24 Compassionate Policy, the policy has been designed to offer immediate financial, legal, and emotional support to employees during personal crises, "ensuring that during life’s toughest moments, no one is left to navigate challenges alone," the company said on Monday (7 October 2024).
In an email to employees, Vikram Chopra, CEO & Founder, CARS24, explained the reason behind this launch: "We want to be there for you—our Autonauts—during tough times because you have collectively got us here and set us on this incredible momentum forward.
"So, we have created a fund to provide financial aid and more without the concern of repayment when it matters the most."
The policy is open to anyone working full-time on the payrolls of CARS24, and offers the following types of assistance:
1. Grants for severe cases: These are life-altering events such as medical emergencies, critical illnesses, death, or disability, where the company will provide financial aid without repayment. People earning less than INR15lakhs per year are eligible for these grants.
- Medical emergencies: The company will cover expenses not covered by insurance for serious illnesses, hospitalisation, or urgent care for family members.
- Important life events: A one-time grant for childbirth for employees earning below INR15lakhs per year.
- Domestic violence support: The company will cover legal aid, relocation costs, and moving expenses for employees escaping domestic violence.
- Victims of burglary, assault, or fraud: Financial support for personal security threats.
- Addiction recovery support: Grants for rehabilitation programmes and counselling services for employees seeking addiction recovery.
- Pet emergencies: One-time grants to cover veterinary costs for severe pet health crises or the sudden loss of a pet.
2. Advances & Equated Monthly Installment (EMI) schemes: People earning above INR15lakhs or dealing with less urgent needs, can also avail advances or flexible EMI options.
- Non-medical urgencies: For situations such as natural disaster repairs, legal fees, or urgent family travel.
- Missed EMI payments: For continued payments of missed home/vehicle/personal loan EMIs.
- School admissions or tuition fees: For children’s education costs.
Beyond financial aid, the policy will also offer the following types of assistance to employees:
- Legal assistance: For cases of domestic violence, harassment, or fraud, we provide legal guidance (filing police reports and handling legal proceedings).
- Medical guidance: Access to medical consultations on critical healthcare decisions.
- Emotional & psychological support: Access to mental health professionals to help manage grief, trauma, or workplace stress.
- Relocation support: Assistance with logistics as well as counselling & legal aid for employees escaping domestic violence.
- Addiction recovery assistance: Continued support through rehabilitation programs and counselling for employees seeking recovery.
TALSO READ: Mindful moments: A week of mental wellbeing initiatives for a happier workplace
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