IndiaFirst Employee Benefits Plan helps you invest the funds set aside to cover your employee liabilities such as Gratuity and Leave Encashment into market linked investments. It offers a life cover for all your employees, securing their families against uncertainties of life.
Reasons to buy IndiaFirst Employee Benefits Plan
- Manage your future employee liabilities such as Gratuity and Leave Encashment through a transparent and value for money plan.
- The plan offers a uniform life cover of Rs. 1,000 for all your employees, securing their families against uncertainties of life.
- Optimize your investment returns by choosing between four funds across asset classes.
- Your contribution is a deductible business expense.
- Gratuity benefits are tax free up to Rs. 10,00,000 under section 10(10).
- Any death benefit under the group insurance is tax exempt under Section 10 (10D) of the Income Tax Act 1961.
What are the eligibility criteria?
- The minimum and maximum age at entry should be 18 and 70 years respectively.
- There is no minimum age applicable for normal exit. The maximum age for normal exit should be 71 years.
- The minimum group size that can be covered is 50 (10 for approved gratuity scheme). There is no limit on the maximum group size.
- Minimum (initial) contribution should be Rs. 50,000/- There is no limit on minimum annual contribution, maximum contribution or maximum size of the fund.