Oyster’s local benefits package provides top-class benefits tailored specifically to your country and needs.
Benefits providers
Oyster has partnered with Plum Insurance, a leading broker in India, to facilitate the management of local benefit providers who understand the market and offer reliable services.
Private health insurance
- Plum (broker)
- ICICI Lombard (insurer)
Personal accident & disability insurance
- Plum (broker)
- ICICI Lombard (insurer)
Annual health check-ups
- Plum (broker)
Benefits packages
Companies can choose from Essential, Competitive, and Best-in-class packages. Some of the coverage highlights include:
- Excellent service from a top provider in India.
- Faster claim experiences.
- Inpatient & outpatient coverage.
- Dental & vision coverage.
- Accident/disability insurance.
- Annual health check-ups.
- A dedicated app to book appointments.
- Dependent coverage - Partner, children, and parents
Package comparison
| Essential | Competitive |
Best-In-Class |
||
|
Health Insurance |
Sum insured per family | Coverage up to ₹500,000 | Coverage up to ₹1,000,000 | Coverage up to ₹1,500,000 |
| Maternity | Coverage up to ₹100,000 | Coverage up to ₹125,000 | Coverage up to ₹150,000 | |
| Road Ambulance |
Coverage up to ₹5,000 |
Coverage up to ₹5,000 | Coverage up to ₹5,000 | |
| Mental Illness Hospitalization |
Coverage up to ₹30,000 |
Coverage up to ₹100,000 | Coverage up to ₹200,000 | |
| Psychiatric Ailments |
Coverage up to ₹30,000 |
Coverage up to ₹100,000 | Coverage up to ₹200,000 | |
| Annual Health Check-up Plan | Essential plan covering 75+ markers | Essential plan covering 80+ markers | Essential plan covering 85+ markers | |
|
OPD, Dental & Vision |
Not covered |
Coverage per family of ₹10,000 |
Coverage per family of ₹20,000 |
|
| Personal Accident & Disability | Coverage per Employee of ₹1,000,000 | Coverage per Employee of ₹2,000,000 | Coverage per Employee of ₹3,000,000 |
The above Package Comparison is simply a summary of the benefits packages. For the full list, please review the Employee Handbook here.
FAQs
When do my benefits start?
- The benefits start date will be the same as the employment start date. Employees will receive an invitation via email to access the provider’s website to complete their enrollment within 15 days of their start date.
How do I use my Plum account?
- Please see this guide here to learn more about your Plum dashboard and health benefits.
When do I receive my Health Card?
- It takes two days after the enrollment window has been closed for Plum to process health IDs. Therefore, the health IDs will be loaded to the Plum App 18 normal days after enrollment.
What do I do if I get married or have a child?
- Inform Oyster HR within 30 days of birth/marriage. Changes to the benefit plan will not be possible after this 30-day window.
Can dependents be added?
- Each Benefit package (Essential, Competitive, Best In Class) includes several dependents.
| Dependents covered under each plan | |||
| For | Essential | Competitive | Best-in-Class |
| Team Member | ✅ | ✅ | ✅ |
| Spouse | ✅ | ✅ | ✅ |
| Children (4) | ✅ | ✅ | ✅ |
| *Parents (2) | ✅ | ✅ | |
* Parental Coverage can cover either the Team Member’s parents or their spouse's parents. However, this coverage must only be used for the parents on one side of the marriage, so Team Members can opt to cover either their parents or their spouse's parents, but not a mix.
When can I add my dependents?
- The enrolment window for adding your dependents will remain open for 15 days after you have been enrolled.
When will my dependents’ cover start?
- The coverage start date for dependents will be the same as the main member’s.
What are the pension benefits in India?
- Pension in India is governed by the Employees Provident Fund Organization India (EPFO). A person is eligible for pension after retirement only if he has been in service for a minimum of 10 years.
- The provident fund is a compulsory scheme in India, where 12% of the basic salary should be contributed by both employer and employee.
- Of the 12% contribution, 8.33% goes to the provident fund, and the remaining 3.67% goes to the Employee pension scheme (EPS).
- Oyster does not offer any additional private pension scheme at this time.
How do I request a change in my pension contribution?
- To request a pension contribution change, don't hesitate to get in touch with our Support Team. Once the request has been made, Oyster will forward you a change request form to complete and send back. Oyster will then arrange the change with our payroll partner.
Coverage brochures
Private Insurance & Health Check-ups:
- Plum | Employee Handbook
- Plum | Health & Wellness Plans
- Plum | Support Guide
Support
If you have any questions, don't hesitate to get in touch with Oyster Support for assistance.
