The Institute of Chartered Accountants of India (ICAI) has announced that the Managing Committee of the Chartered Accountants ’ Benevolent Fund (CABF) has decided to relax certain aspects of the procedure followed for grant of Medical Financial Assistance to the Members and their dependents.
Firstly, Financial Assistance will be considered for dependent parents with no age bar where gross total income as per Income tax Act of family of the Member is less than Rs. 10 lacs.
Secondly, Financial Assistance will also be considered for the remaining amount in the cases (including dependent) where the Member has received a partial claim from the insurance company.
Thirdly, dependent parents with income shall also be now eligible (as against no income of dependent earlier) provided the total gross income as per Income Tax Act of the family of the Member is less than Rs. 10 lacs.
“The relaxed norms shall be applicable for the Hospitalization cases (on and after 26th April, 2021) to the members and their dependents who are in distress and need help. They may apply in the prescribed Application Form-cum-Undertaking hosted on the website of the ICAI,” the ICAI announced.