Company Secretaries Benevolent Fund increases the medical reimbursement amount

Company Secretaries Benevolent Fund (CSBF) of ICSI increases the amount of medical reimbursement from Rs 75,000/- to Rs 1,50,000/- for the members who have completed the 3 years of membership of CSBF and from Rs 50,000/- to Rs 1,00,000/- for the members who have not completed the 3 years of membership of CSBF and Company Secretaries who are a non-member of CSBF.

The full text of the notification is as follows:-

1st May 2021.

Dear Members,

Considering the very grim phase the country is facing due to the phenomenal surge in the COVID-19 pandemic and in order to support its stakeholders, the Company Secretaries Benevolent Fund w.e.f 1st May 2021, has enhanced the medical reimbursement limits for those affected by COVID-19. The Members and/or their declared dependents who have tested Covid positive from a government/ICMR authorized testing centre (only RT-PCR or Rapid Antigen Test result to be accepted) and have incurred expenses related to treatment for Covid in a hospital (private/ government/ military) or under home quarantine/isolation (on production of original bills), shall be eligible for reimbursements, with enhanced limits as under:

For Life members of CSBF:

Limit enhanced from Rs.75,000/- (Rupees Seventy Five Thousand Only) to Rs.1,50,000/- (Rupees One Lakh
Fifty Thousand Only) for self and their declared dependents.

For Life members of CSBF who have not completed 3 years of subscription (for self and their declared dependents); and for Company Secretaries who are non-members of CSBF (for self only):

Limit enhanced from Rs.50,000/- (Rupees Fifty Thousand Only) to Rs.1,00,000/- (Rupees One Lakh
Only).

As per the existing Bye Laws of the CSBF, the Annual Income criteria for deserving cases (that is Annual Income up to Rs. 7.5 Lakhs during the previous Financial Year) shall remain the same.

Stay safe!
Regards,
CS Nagendra D Rao
President, ICSI & Chairman-CSB