Cure.fit's Mukesh Bansal addresses 'Rs 2 crore employee fund vs Rs 5 crore PM Cares fund' criticism

The allocation kicked up a storm on social media with many questioning why the company’s fund did not match the Rs 5 crore donation it made towards the PM Care and other relief funds.

In a conversation on CNBC-TV18’s Startup Street, Bansal said, “Let me clarify. This is a very small portion of what we are doing for our employees. Our total funds set aside to pay for all our trainers for the next six months is in the excess of Rs 25 crore. The employees that are being affected, the salaries we have paid for the past two months and severance is an additional Rs 5 crore. So, Rs 30 crore is only for our trainer base. This Rs 2 crore was just above and beyond that many of our employees and management team members have contributed as an emergency fund. So if the severance is not sufficient, say there is a medical emergency or an education situation where they need a one-time help, this emergency fund will help .”

Bansal added that the PM Care Fund donation has been misreported. The Rs 5 crore is a personal contribution. “Ankit, our management team and I have personally set aside Rs 2.5 crore that we have contributed and the company matched another Rs 2.5 crore. We feel as responsible corporations and citizens it is our duty to help the larger ecosystem, be it helping migrant workers or addressing the lack of PPE kits. When the PM of the country calls for help, it is our duty to help to whatever extent we can. So, this is a wrong perception and an incorrect way of looking at the numbers.”