Talking to reporters after a cabinet meeting, Chief Minister Oommen Chandy said besides the financial assistance, Sudheesh's wife will be given a government job.
He said according to information received by the state, the body of the soldier would be brought here tomorrow.
Sudheesh hailed from Manrothuruthu in Kollam district.
A total of 10 army personnel were trapped in the avalanche when it hit a high altitude post in Siachen Glacier in Ladakh on February 3. One of them Lance Naik Hanumanthappa, found alive under the snow after six days, was undergoing treatment in New Delhi, while others have died.