The Himachal Pradesh State Electricity Board Limited (HPSEBL) has signed memorandums of understanding (MoUs) with seven banks to implement a comprehensive corporate salary package. This initiative offers enhanced banking facilities, complimentary insurance cover, and a host of value-added financial benefits to its employees and pensioners.
Beneficiaries and Coverage
Nearly 43,000 HPSEBL employees and pensioners will benefit from the scheme. Eligible beneficiaries will receive complimentary Personal Accident Insurance covering accidental death, permanent total disability, and permanent partial disability. Additionally, Term Life Insurance and other benefits are available under the respective salary account packages. Depending on the bank and the applicable salary slab, the insurance cover ranges from Rs 30 lakh to Rs 1.50 crore.
Official Statements
HPSEBL Chairman Prabodh Saxena stated, "This initiative reflects the Board’s commitment to the welfare and financial security of its employees and pensioners. Employees in the power sector perform duties under challenging and risk-prone conditions, making comprehensive financial protection an essential component of employee welfare." Director (Finance) Shrawan Manta noted that the scheme would not entail any direct financial liability on HPSEBL, as all benefits would be provided by the empanelled banks under their corporate salary packages.
Employee Representation
HL Verma, representing the Joint Action Committee of HPSEBL employees, commented that the welfare measure would provide long-term financial security and strengthen social protection for the HPSEBL fraternity.
Empanelled Banks
The seven empanelled banks are Punjab National Bank, State Bank of India, Bank of Baroda, ICICI Bank, HDFC Bank, Himachal Pradesh State Cooperative Bank Ltd, and The Kangra Central Cooperative Bank Ltd.
