Employee Benefits to look for when you are expecting!

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Hey Congratulations!
You must be busy preparing for the bundle of joy. Planning your savings, planning the future of the baby, changing your habits to suit the baby and most of all preparing to say goodbye to your sleep. After all, having a baby is life changing and involves a lot of planning and thinking through. From personal to professional life, everything needs to be worked out. However, don’t get anxious, while you are all over the place preparing to welcome your kid into the world, you can enjoy employee benefits offered by the company as per the law. Take a deep breath, read this through, and take the smart step towards motherhood.
What are your maternity rights at work?
According to the Maternity Benefits Act, 1961, if you are employed in an organisation and are pregnant, you are entitled to several rights, and mandatory paid leave.
These further include a lot of benefits and entitlements available, along with benefits that you can claim if you’re pregnant and unemployed or on a low income. Below mentioned are a list of rights that you're entitled to during pregnancy: -
How to claim for these maternity benefits?
During the initial days, a verbal intimation to the employer of the pregnancy should be fine; however, to officially claim the leave and benefits, you have to write a formal letter asking for the same.
The letter should include everything from your tenure in the company, your expected due date, starting and ending dates of your leave, and so on.
What is maternity insurance? How is it helpful?
It is common knowledge that raising a child leads to an increase in your expenses, but have you ever considered the cost of pregnancy and labour? The cost of a normal delivery along with hospitalization cost in a decent hospital, itself ranges anywhere between INR 60,000 to INR 2 Lakhs.
Therefore, as a responsible parent, you must prepare, keeping in mind the costs related to pregnancy and the delivery. This is where maternity cover in your health insurance plan comes of use! Below mentioned is a list of factors that such a plan covers:
Pre-hospitalization expenses (covered up to 30-days prior to delivery)
However, you cannot claim for maternity benefits until after 2-6 years of buying the policy, making it is essential to buy maternity cover as early as possible.
What are the rights you should be aware of?
In conclusion, the govt. has a lot of provisions, rights and benefits for the expecting parents to make your pregnancy a easier affair. All you need to do is reap these benefits. Apart from this, be calm, happy and keep smiling.
Early financial planning can help you manage the costs of raising a child. Secure your child's future by providing some of the best child investment plans, insurance policies, education & creating separate savings account for them.
All the best, you are going to be a great parent!
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