PF, ESI, Gratuity & Insurance
All the employees of ATME College of Engineering are covered under Employees Provident Fund, the applications of these rules are mandatory to all the employees. According to these rules the employee shall contribute towards PF Contribution at the rates prescribed in the rules and matching share of contribution shall be paid by the Management and both shares of PF contributions shall be remitted to the regional provident fund Commissioner, Karnataka, Mysuru.
ATME College of Engineering are also registered under ESIC in order to facilitate the employees whose Gross salary is under Rs. 21,000/-, he rates are revised from time to time. Currently, the employee’s contribution rate (w.e.f. 1.1.97) is 1.75% of the wages and that of employer’s is 4.75% of the wages paid/payable in respect of the employees in every wage period.
ATME College of Engineering is proud to inform that college has provided Accidental Insurance coverage for all its staff members under Education Package Policy. Since day one all the staff members are covered under this policy. The coverage under the insurance is both on campus as well as off campus.
Under this unique insurance coverage staff member are benefitted as under:
- Provides relief in the event of accidental contingencies to the staff members.
- Covers the medical expenses incurred on the medical treatment of the students for accidental bodily injuries, including specified day-care treatments.
ATME College of Engineering has entered into an Agreement with Life Insurance Corporation of India(LIC) for a Gratuity plan, the policy name is LIC’s New Group Gratuity Cash Accumulation Plan, the employees of ATME College of Engineering who will complete 5 years of service in college will have the benefit of Gratuity at the end of the employee’s service in college. The rules and regulations to claim the gratuity must be followed as per the LIC policy and agreement.