Tuesday, October 12, 2010: Crystal Hues’ long practiced employee welfare scheme now recommended by the advisory panel commissioned by the government.
Crystal Hues’ innovative employee welfare scheme, in place since 2005, is now recommended by a recent study commissioned by the government of India
New Delhi, October 9, 2010: A recent study commissioned by the government of India recommended the creation of a separate fund by the companies for meeting gratuity payments of their employees to ensure that retirement savings of workers are not wiped out in corporate bankruptcies ( visit http://economictimes.indiatimes.com/news/economy/policy/Your-gratuity-may-just-get-bankruptcy-protection/articleshow/6489612.cms ). Crystal Hues, which has always been an active pursuant of innovative employee welfare schemes, implemented this policy in 2005, long before its recent recommendation. Crystal Hues created a separate fund in 2005, to protect gratuity payments of employees. The fund which equals the gratuity liability calculated up to the current year is managed by Employees of Crystal Hues Limited Group Gratuity and Welfare Trust and these funds are invested in a scheme promoted by Life Insurance Corporation of India called Group Gratuity cum Life Assurance Scheme. The above move was undertaken by Crystal Hues to safeguard the interests of its employees from unforeseen circumstances. This is an example of the Company’s ability and vision to think ahead of time and others on matters related to employee welfare. This is among other innovative measures taken by Crystal Hues including individual insurance of all the employees without any cost to the employees.
Mr, Shailesh Kumar
Crystal Hues Limited
1001-A, Devika Tower 6, Nehru Place
New Delhi - 110 019, India
Phone : +91-11- 46850000, 30881595