CPI(M) politburo member Brinda Karat led the delegation that gave the cheques to Junaid's parents at their home in Khatawali village on behalf of the party's Kerala unit, the Left party said in a statement.
The CPI(M) said its Kerala state committee arranged the funds after Junaid's parents, Jalaluddin and Saira, met Chief Minister Pinarayi Vijayan during his visit to the national capital last month.
Saira had then said she wanted to start a school for girls and name it after Junaid, the statement said.
The funds are only a token of the strong feeling of solidarity in the time of grief, the statement quoted Karat as having said.
She also criticised the "subversion" of justice in the case, saying four of the six people arrested in connection with the incident had already been released on bail.
Junaid was stabbed to death and two of his brothers severely injured following an altercation on a Delhi-Mathura train on 23 June.
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