NEW DELHI: Kitchen appliances maker TTK Prestige on Tuesday said it has concluded a long-term settlement covering all its workmen at the manufacturing unit in Gujarat.
The company, however, did not share the details of the settlement.
"The company has successfully concluded a long-term settlement covering all its workmen at the manufacturing unit at Karjan, Gujarat. This settlement provides for better productivity," TTK Prestige said in a regulatory filing.
As per TTK Prestige's website, the company has five manufacturing plants at Hosur and Coimbatore in Tamil Nadu, Karjan in Gujarat, Roorkee in Uttarakhand, Khardi in Maharashtra.
In a separate filing, TTK Prestige said it has rolled out a series of measures to provide COVID-19 relief and support to employees and their families, as the country grapples with the second wave of the pandemic.
The company said it has primarily focused on three areas that include support to family members in case of an employee's death, COVID-19 relief for employees and their families as well as an in-house vaccination programme.
In case of demise of an employee due to COVID-19, TTK Prestige will make an ex-gratia payment to the next of kin of the deceased that is equivalent to 100 per cent of the monthly take-home salary for a period of a year. In the second year, the amount will be equivalent to 50 per cent of the monthly take-home salary.
Medical insurance coverage will be extended to the existing nominated family members for a period of two years from the date of death.
TTK Prestige will also aim to provide employment to one family member, subject to employment readiness, skillset of the candidate and business requirements.
TTK Prestige has also announced plans to offer an onsite vaccination programme to all employees and family members across major locations.