THE INSTITUTE OF
Company Secretaries of India
IN PURSUIT OF PROFESSIONAL EXCELLENCE
Statutory body under an Act of parliament
(Under the jurisdiction of Ministry of Corporate Affairs)
Dated: 27th April, 2021
As we are all aware, the people of India are going through one of the most difficult situations in their lives due to the Covid-19 pandemic.
We wish to bring to the kind notice of all Members that Company Secretaries Benevolent Fund (CSBF) is reimbursing the medical expenses, in deserving cases, incurred by the CSBF Life Members towards Covid-19 treatment upto Rs.75,000/- (limited to Rs.50,000/- till completion of 3 years of subscription).
In addition to the above, life members of CSBF are also given financial benefits as per details given below:
1. Rs. 10,00,000/- (Rupees Ten Lakh) to the dependents of deceased member in case of unfortunate death of member upto the age of 60 years.
2. Rs. 3,00,000/- ( Rupees Three Lakh) to the dependents of deceased member in case of unfortunate death of member above the age of 60 years.
3. Rs. 50,000/- per child – one time (upto two children) for education of minor children of deceased member upto the age of 60 years.
4. Upto Rs. 75,000/- for reimbursement of medical expenses incurred by member for self or dependent family members (in deserving cases*). Expenses borne towards treatment of Covid are included here.
5. Reimbursement of medical expenses uptoRs. 50,000 (in deserving cases*) for CS (self only) who is not members of CSBF. * Deserving case limits annual income to Rs.7,50,000/- in the last financial year.
May we appeal to the Members of the Institute, who have not yet become the member of CSBF, to become a life member at the earliest. CSBF can provide the financial security to your family at times of need. Financial support to members/their families are given in the minimum time possible.
As compared to term insurance policies, the onetime Subscription Fee to CSBF is much cheaper. Moreover, subscription / contribution to CSBF qualifies for deduction under Section 80G of the Income Tax Act, 1961.
In case you have not yet become a life member of CSBF, we take this opportunity to once again urge the Members to become a life member of CSBF right away by remitting a one-time subscription of Rs.10,000/- through Institute’s portal (http://www.icsi.edu) with ‘Form-A’ duly filled in and signed available at the link: https://www.icsi.edu/csbf/home
Together we shall emerge stronger and overcome this pandemic situation. Kindly take care and be safe.
Thanks and Regards,