PhonePe's COVID-19 relief for employees: Rs 2L allowance, additional leaves, mental health support, and more
Homegrown fintech gianthas undertaken several employee welfare measures to help its teams navigate the deadly second wave of the COVID-19 pandemic, including creating a database of ICU beds, oxygen cylinders, and medicines via local networks.
The startup also announced a relief package of Rs 2 lakh as a COVID-19 allowance for employees who need emergency medical fund. The sum is not required to be repaid.
Startups across the country have undertaken such relief measures to support their employees by focusing on vaccination and providing health insurance packages to help them tide over the second wave.
PhonePe has gone the extra mile to set up internal helplines, provide telemedicine support, and grant generous leaves for those affected by COVID-19, or taking care of family members affected by it.
PhonePe has offered up to 14 extra days of sick leave to help employees rest and recuperate, in addition to the two days it offered to help with managing stress.
To support its employees' family in case the primary earner passes away, PhonePe said it will grant at least three months salary, or Rs 2 lakh, whichever is higher, as cash. It added that it will also provide medical insurance for the deceased's spouse, parents, and children for 10 years, allow immediate vesting of all stock options, give education allowance, as well as provide job assistance to the person's next of kin.
The company's free vaccination drive is also underway at several office locations, enabling employees and their five dependents to avail this scheme, PhonePe said, adding that not a single vial of the vaccine has been wasted.
Startups such as Zomato, Flipkart, Amazon, Paytm, Ola, Oyo, and others have announced similar wide-scale vaccination drives for employees and their family members too. Big corporations such as Infosys, Bosch, Mercedes etc have also taken steps to not only ensure the well-being of their own employees, but also engaged with regulators, stakeholders, and customers to mobilise funds for essential resources.