RULES FOR GRANT OF ADVANCE FOR MEETING MEDICAL EXPENDITURE IN CASE OF SURGERY AND PROLONGED ILLNESS LIKE T.B., LEPROSY, CANCER ETC.
1.0. OBJECTIVE:
To assist the employees of the Company to meet the heavy expenditure in connection with major medical treatment for themselves or for their family members in excess of their normal entitlement.
2.0 SCOPE:
These rules shall apply to all permanent employees who have been confirmed in the services of the Company but shall not apply to :
a) Casual, part time, work charged , and other temporary employees.
b) Apprentices and trainees.
c) Persons appointed on contract for less than three years.
d) Foreign technicians
e) Deputationists or those working in other organisations on lien basis.
3.0 DEFINITIONS:
In these rules, unless the context otherwise requires:
a) “Company” means “Sponge Iron India Limited”(SIIL)
b) Sanctioning Authority: Managing Director or such other Officer as may be authorised by him
c) “Family” means and includes:
Employee’s wife/husband, as the case may be , legitimate children, parents, brothers and unmarried sisters dependent on the employee.
4.0 TERMS AND CONDITIONS FOR GRANT OF ADVANCE:
The advance shall be granted
a) for undergoing major surgery
b) for prolonged treatment in cases of diseases like T.B ., Leprosy, Cancer, Polio, Epilopsy etc.
c) Purchase of Othopaedic appliances, life saving devices like pace maker/artificial heart valve, provided the expenditure is above Rs. 2,000/-
5.0 AMOUNT OF LOAN:
5.1 The amount of loan shall be limited to five months salary/wage or Rs. 25,000/- (rupees Twenty five thousand only) or the actual expenditure whichever is less. The loan shall not bear any interest.
5.2 ADMISSIBILITY OF MORE THAN ONE ADVANCE FOR SAME ILLNESS:
Originally not more than one advance shall be granted in respect of the same illness or injury. If however, the Head of the Medical Department/ Medical Institution, certifies that the estimated cost of the treatment is likely t be more than previously certified by him either due to longer duration of the treatment than initially anticipated or due to the fact that the patient requires costlier treatment which was not in view at the time of issuing the original certificate, a second advance may be granted by the Sanctioning Authority on the advice of the Head of Medical Unit provided the total of the advances so granted is restricted to Rs. 25,000/-
6.0 PROCEDURE FOR GRANT OF ADVANCE:
6.1 An application should be submitted in the form prescribed in Annexure – I, by the employee.
6.2 The employee or his family member, as the case may be , shall subject himself or herself to preliminary medical examination by the Company’s Medical Officer. In case specialist opinion is required, he shall refer the case for such specialist medical examination. The employee shall submit his request to the Company for loan enclosing there with medical advice and an estimate of the cost of proposed treatment through the Medical Officer of the Company. The employee shall render the account in respect of the loan advanced supported by the necessary prescriptions and cash bills as soon as possible, but not later than 3 months from the date of sanction of loan.
6.3 in case the amount applied for is Rs. 5,000/- or less the employee shall furnish one solvent surety as per the form at Annexure –II. In case the amount is above Rs. 5,000/- he shall furnish two solvent sureties as per the form.
6.4 The amount of loan shall be granted in a phased manner on the recommendations of the Medical Practitioner duly certified by the Company’s Medical Officer.
6.5 In case where the Company is satisfied for good and sufficient reasons that the advance is drawn by fraudulent method or expended for purposes other than the purpose for which it was sanctioned or fails to render the account within reasonable time, the Company reserves the right to recover the money from employee in whatever manner feasible or from his sureties, at its option.
7.0 ADJUSTMENT OF ADVANCE GRANTED:
Recovery of Medical Advance so granted after the availment of medical reimbursement shall be made in not exceeding 36 equal monthly instalments or in such number of instalments as the Sanctioning Authority may decide depending on the merits of each case starting from the pay bill in the month in which he/she draws duty pay and /or leave.
8.0 TENURE:
8.1 These rules shall come into force with effect from 1.7.1984.
8.2 The Company reserves the right to modify, cancel or amend the rules without prior notice.
ANNEXURE – II
THIS BOND is made by us ______________________ aged _________ years, S/o. _____________ working as __________ and resident of ____________ and ___________________ aged ______ years S/o. __________________ resident the SURETY respectively which expression shall include the executors and administrators of the DEBTOR and the SURETY respectively..
AND WITNESSES that we are held and firmly bond jointly and severally to M/s. Sponge Iron India Limited, a Company registered under the Companies Act, 1956, having its Registered Office at Khanij Bhawan, 6th floor, 10-3-311/A, Castle Hills, Masab Tank, Hyderabad – 500 028 (hereinafter referred to as the Company ______________ to the said Company their in the sum of Rs. ______(Words) Rs.__________________________ (figures) only to be paid to the said Company their successors –in –interest and assigns on the terms and conditions hereinafter appearing.
WGEREAS the Company has this day advanced an interest free loan of Rs. __________ (works) Rs. _____________ (figures) only to the DEBTOR to enable him to meet part of the expenses incurred by him on the treatment /operation of his ____________, repayable in _______- installments at Rs. ______ per month and the Surety has guaranted repayment of the said loan in the manner provided hereinabove
.
NOW THEREFORE THIS BOND is executed by the aforesaid ______________________________ and __________________________
(Debtor’s) (Surety’s name
and binds the aforesaid Debtor and Surety individually and severally as under :
i) That the Loan shall be repaid by the said DEBTOR in the aforesaid manner.
ii) That in case of non-payment and on failure of the Company realising the money from the said DEBTOR from his properties, the said SURETY shall reimburse and pay the entire sum or any balance remaining unpaid in accordance with the terms of this BOND to the Company.
IN WITNESS WHEREOF we, the said _______________ and ___________ have hereto respectively signed and delivered at _______ the day of ________ 200 .
DEBTOR:
WITNESS: SURETY: