Contractual employees working under UPNL in Uttarakhand Power Corporation Limited (UPCL) will now be covered with accident insurance of up to Rs 50 lakh. As part of an agreement between UPNL and Punjab National Bank (PNB), salary accounts of these employees are being opened in PNB, which will also extend several additional banking benefits.
The agreement between UPNL and PNB was signed in September last year. Under this, once the employees’ salary accounts are opened in PNB, they will receive benefits including a Rs 50 lakh accident insurance cover, payable in a lump sum to the dependents in case of death. Employees will also be entitled to 40 to 100 cheque leaves per financial year, free of charge, along with two to five RTGS, NEFT, or demand drafts annually at no cost. Housing, vehicle, or personal loans will carry a 50% concession in processing fees, while special bonanza offers may provide up to 100% waiver.
With PNB accounts, UPNL employees will receive monthly salaries directly. However, if salaries remain unpaid for more than two months, insurance benefits may not apply from the third month. Ex-servicemen employed through UPNL will also gain pension-related benefits under PNB’s Rakshak Plus scheme.
UPCL MD Anil Kumar confirmed that the process has begun based on UPNL’s request. Executive Director (HR) Dr. R.J. Malik has issued instructions to all chief engineers, general managers, and executive engineers to ensure smooth implementation.
As per the agreement, employees are categorized based on salary: Rs 10,000–25,000 as Silver-25, Rs 25,001–50,000 as Gold-50, Rs 50,001–1,00,000 as Premium-100, Rs 1,00,001–2,00,000 as Platinum-200, and above Rs 2,00,001 as Titanium. Accident insurance of Rs 50 lakh applies to all categories, while additional banking benefits differ according to the salary slab.
