ICSI has created a dedicated Corpus Fund of Rs.10,00,00,000/- (Rupees Ten Crore only) for benevolence by providing financial assistance to the declared dependent (s) / legal heir(s) of deceased members of ICSI in case of Covid-19 related unfortunate demises, who were not members of CSBF or were CSBF members of age 60 years and above.
Under the said Special Covid - 19 Assistance, the dependent(s) (if declared under CSBF) / legal heir(s), as applicable, of a member of ICSI, who have lost their life due to Covid-19, can claim a one-time financial assistance of maximum Rs. 5,00,000/- (Rupees Five Lakh only) subject to fulfilment of certain criteria as mentioned below:
1. The Scheme is applicable for current members (as on the date of demise) who were not life members of CSBF and for those life members of CSBF who had completed 60 years of age on the date of demise.
2. The scheme will be available for the loss of life from 1st April, 2020 to 31st March, 2022 on account of Covid infection and medical complications arising therefrom.
3. In case of life members of CSBF who had completed 60 years of age on the date of demise, the claim shall be limited to Rs. 2 lakh (the balance amount of Rs. 3 lakh could be claimed from CSBF).
4. No Objection Certificate(s) from other declared dependent(s) under CSBF / legal heir(s) of the deceased member where there is only one claimant for receipt of claim.
5. The claimant(s) must give an undertaking that none of them have been beneficiary / claimant / nominee of insurance / ex-gratia / compensation of more than Rs.10,00,000/- (Rupees Ten Lakh only) either singly or in cumulative on account of demise of the member and that ICSI will have a right to claim back the disbursed amount, in case the undertaking is later found to be untrue.
Procedure to claim financial assistance from the Fund
The claim for financial assistance can be made in requisite application form duly signed by claimant(s) and
submitting the following:
1. Self attested copy of Identity Proof(s) of the claimant(s).
2. Self attested copy of document in support of relation of the claimants(s) with the deceased member (such as Aadhaar card, Voter id card, Passport, Marriage Certificate in case of spouse/Birth Certificate in case of children etc.).
3. Copy of Death Certificate of the member with report of Doctor or Hospital on Covid Death.
4. Copy of Covid positive report of the deceased member from a government / ICMR authorized testing centre (only RT-PCR or Rapid Antigen Test result to be accepted)
5. No Objection Certificate(s) from other declared dependent(s) / legal heir(s) of the deceased member (when there is only one claimant).
6. Copy of cancelled cheque with name printed / bank passbook of the claimant(s).
7. An Undertaking by claimant(s) and those dependent(s) / legal heir(s) who give NOC in favour of the claimant(s) at serial no. 5 above that none of them have been beneficiary / claimant / nominee of insurance / ex-gratia / compensation of more than Rs.10,00,000/- (Rupees Ten Lakh only) either singly or in cumulative on account of demise of the member and that ICSI will have a right to claim back the disbursed amount, in case the undertaking is later found to be untrue.
Address to submit application form
Directorate of Membership
The Institute of Company Secretaries of India
ICSI-House, C-36, Sector-62,
Noida - 201309 (U.P.)
You may download the Application Form, Format of Undertaking and NOC from the Institute’s website.
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