IT & Govt. Employees Collective
₹1 Crore & ₹50 Lakhs Collectives – IT & Govt. Employees
The ₹1 Crore & ₹50 Lakhs Collectives are a support initiative exclusively for IT professionals and government employees. The goal is to create a financial safety net for the families of members in case of an unfortunate demise. Each member pledges to contribute a small amount when a fellow member passes away, ensuring their family receives support immediately.
How It Works
Membership Enrollment
IT professionals and Government employees can join this collective by paying a nominal registration and an annual renewal fee of ₹100/-. Need to upload their valid employee ID and nominee details.
Pledge to Support
Each member pledges to contribute a specific amount upon the unfortunate demise of a fellow member.
Fund Transfer
Once a member's demise is verified, all other members contribute their pledged amount, and the total fund is transferred directly to the nominee of the deceased member.
Threshold for Launch
The collective will officially launch once a minimum of 1,000 members have enrolled.
Decreasing Contribution Over Time
As the number of members grows, the individual contribution per demise will reduce while ensuring the total collected fund reaches the goal.
Contribution Table – Illustration Purpose – ₹1 Crore Collective
| Number of Members | Contribution Per Member (₹) | Total Corpus Raised (₹) |
|---|---|---|
| 2,000 | ₹500 | ₹10 Lakhs |
| 5,000 | ₹400 | ₹20 Lakhs |
| 10,000 | ₹400 | ₹40 Lakhs |
| 25,000 | ₹400 | ₹1 Crore |
| 50,000 | ₹200 | ₹1 Crore |
Contribution Table – Illustration Purpose – ₹50 Lakhs Collective
| Number of Members | Contribution Per Member (₹) | Total Corpus Raised (₹) |
|---|---|---|
| 1,000 | ₹300 | ₹3 Lakhs |
| 2,000 | ₹300 | ₹6 Lakhs |
| 5,000 | ₹300 | ₹15 Lakhs |
| 10,000 | ₹300 | ₹30 Lakhs |
| 25,000 | ₹200 | ₹50 Lakhs |
| 50,000 | ₹100 | ₹50 Lakhs |
Key Benefits
- Affordable Contribution: The larger the collective, the lower the per-person contribution.
- Direct & Transparent: Funds go directly to the deceased member's nominee without intermediaries.
- Strong Community Support: A collective effort ensuring financial security among IT and government employees.
Pledge
- Support Fellow Members: Contributing promptly and consistently to this collective's fund.
- Maintain Integrity: Providing accurate personal information and adhering to the collective's guidelines.
- Promote Transparency: Engaging in open communication and participating in decision-making processes.
- Foster Community Growth: Encouraging others to join and strengthen our collective.
- Respect Confidentiality: Honouring the privacy of fellow members with utmost care.
- Demonstrate Solidarity: Recognizing that our strength lies in unity, I will stand with my fellow members.
Important Disclaimer
- The total contribution per claim depends on the number of active contributors at the time of the request.
- The full claim value promises the IT & Govt. plan is assured; the actual amount depends on contributions received.
- If the required amount is not collected, the nominee will receive only the total contributed by the active members.