ICSI Covid-19 Assistance Fund: Financial Aid for Deceased Members' Families

ICSI Special Covid-19 Assistance Corpus

The Institute of Company Secretaries of India (ICSI), a statutory body operating under the jurisdiction of the Ministry of Corporate Affairs, has established a Special Covid-19 Assistance Corpus Fund amounting to Rs. 10,00,00,000/- (Rupees Ten Crore only). This fund aims to provide financial assistance to the declared dependents or legal heirs of deceased ICSI members who lost their lives to Covid-19, specifically targeting those who were not members of the Company Secretaries Benevolent Fund (CSBF) or who were CSBF members aged 60 years and above.

Eligibility Criteria for Financial Assistance

Under this special assistance scheme, the following criteria must be met:

Membership Status: The scheme is applicable to active ICSI members as of the date of their demise who were not life members of CSBF, as well as to life members of CSBF aged 60 years or older at the time of death.
Date of Death: Assistance applies for deaths occurring between April 1, 2020, and March 31, 2022, due to Covid-19 or complications arising from Covid-19.
Claim Limits for CSBF Members: For life members of CSBF aged 60 years or older, the maximum claim limit is Rs. 2,00,000/- (Rupees Two Lakh only). The remaining amount of Rs. 3,00,000/- can be claimed from CSBF.
No Objection Certificate: Claimants must provide a No Objection Certificate (NOC) from any other declared dependents under CSBF or legal heirs of the deceased, if there is only one claimant.
Undertaking Requirement: Claimants must include an undertaking stating that none of them have received benefits (insurance, ex-gratia, or compensation) exceeding Rs. 10,00,000/- (Rupees Ten Lakh only), in total or individually, due to the member's demise. ICSI reserves the right to recover any funds disbursed if this statement is later found to be false.

Claim Process

To claim financial assistance from the fund, the claimant must complete the requisite application form and provide the following documents:

Self-attested copies of identity proof(s) of the claimant(s).
Self-attested documentation proving the relationship between the claimant(s) and the deceased member (e.g., Aadhaar card, Voter ID, Passport, Marriage Certificate for spouses, or Birth Certificate for children).
A copy of the member’s Death Certificate along with a medical report confirming the cause of death related to Covid.
A copy of the Covid positive report from a government or ICMR authorized testing center (only RT-PCR or Rapid Antigen Test results are accepted).
A No Objection Certificate (NOC) from other declared dependent(s) or legal heir(s) of the deceased member if there is only a single claimant.
A copy of a cancelled cheque with the claimant's name printed or a bank passbook.
An undertaking from the claimant(s) and those providing the NOC (as per point 5) confirming that they have not benefited from compensation exceeding Rs. 10,00,000/- (Rupees Ten Lakh only), with a statement allowing ICSI to recover any disbursed funds if the claim is later debunked.

This special assistance initiative exemplifies ICSI's commitment to supporting its members and their families during challenging times.