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| BENEFITS >> Non Statutory Benefits |
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| Benefit Administration Section |
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This Section deals with benefit claims. The Board has formulated several benefit schemes which active members (those currently in employment) of the ETF are entitled to avail of. |
The following benefit schemes are currently in operation: |
| Benefit Scheme |
Commenced in |
| Free Life Insurance Scheme |
January 1989 |
| Permanent Disability Insurance Scheme |
January 1989 |
| Financial Assistance for Heart Surgeries |
October 1991 |
| Reimbursement of cost of intra-ocular lens |
June 1992 |
| Year Five Scholarship Assistance Scheme |
August 1994 |
| "Shramasuwa Rekawarana" Hospitalization Medical Scheme |
April 1997 |
| 'Viyana' Housing Loan Scheme |
May 2002 |
| Kidney Transplant Surgery Assistance Scheme |
July 2006 |
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| All active members are eligible to avail of these benefits but
they do not have to make any additional contribution to the Fund. The Employer is required
to make contributions on behalf of employees who thereby become members of the Fund. The Act
stipulates that employers shall remit 3% of earnings of each employee to the Fund monthly, before
the last working day of the following month. |
| Although the employer has to contribute a mere 3% of
employees' monthly earnings to the Fund, members benefit greatly by being able to enjoy the above benefits
especially in times of distress. |
| However, a point to note is that failure on the part of
the Employer to remit contributions within the specified period would result in members being deprived
of their legitimate right to benefits. |
| For conditions applicable to the benefit schemes
and eligibility requirements relating to the benefit schemes, please refer Eligibility Criteria |
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Operation of the Benefit Schemes |
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Free Life Insurance Scheme |
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Under this scheme, all active members are covered throughout 24 hours. In case of death of a member, legal heirs of the deceased member are eligible to claim ten times the average of the last 6 months' salary drawn by the member preceding the death, subject to a maximum of Rs. 50,000/- |
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Permanent Disability Insurance Scheme |
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This scheme provides benefits to members in case of total disability resulting in loss of employment, subject to a ceiling of Rs. 200,000/-, depending on the degree of disablement. |
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Heart Surgery Assistance Scheme |
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Members who have to undergo certain heart surgeries classified by the Board [Please refer Appendix] are eligible to seek financial assistance up to Rs. 150,000/-. Surgery may be done locally or overseas. |
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Re-imbursement of Cost of Intra-ocular Lens |
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The scheme enables members to claim reimbursement of cost of intra-ocular lens implanted following cataract surgery, subject to a maximum of Rs. 9,000/- per each eye. |
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Year Five Scholarship Assistance Scheme |
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Financial rewards of Rs. 15,000/- are provided to 3,000 children of ETF members annually, taking into consideration the marks obtained at the Year Five Scholarship Examination. |
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"Shramasuwa Rekawarana" Hospitalization Medical Scheme |
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Members are eligible to claim costs of hospitalized treatment subject to Rs. 25,000/- a year, subject to conditions applicable to the scheme. |
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'Viyana' Housing Loan Scheme |
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Through this scheme members can obtain housing loans at concessionary rates of interest from National Development Bank PLC [NDB Bank]. Employees' Trust Fund Board and NDB Bank have laid down specific conditions in respect of this scheme. |
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Kidney Transplant Surgery Asssistance Scheme |
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Financial assistance to meet expenses of kidney transplant surgeries, up to Rs. 150,000/- is granted under this scheme. The recipient of the kidney is eligible for benefits and the donor does not qualify to receive any payment whatsoever even if the donor is an active ETF member. |
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Year |
No. of claims |
Value (Rs Mn) |
2003 |
11,189 |
125.59 |
2004 |
11,175 |
149.05 |
2005 |
8,607 |
168.09 |
2006 |
4,284 |
106.19 |
2007 |
6,073 |
124.64 |
2008 |
6,651 |
139.78 |
2009 |
4,168 |
125.36 |
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In addition to the above, as at 30.06.2008, 511 'Viyana' housing loans have been granted under the 'Viyana' Housing Loan Scheme and the amount paid is Rs. 490,231,000/-. |
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