As per the survey conducted by Deloitte India 2022 related to the Workforce and Increment Trends. India has faced an increase in the average workforce attrition rate from 15.8 percent in 2020 to 19.8 percent in 2021. It was fueled by various factors, such as lower salaries, reduced fringe benefits, increased workload, insufficient workforce insurance, […]
Experience Modification Rate (EMR) and Workers Compensation
Employees are the most valuable assets of any business. Employers are not just ethically responsible for protecting their worker well-being, but also legally responsible. It is a legal compulsion for businesses to avail of worker compensation insurance in India. In this, we decide the coverage and compensation as per the provisions of the Workmen Compensation […]
How long can a person stay on workers’ compensation?
Workers’ well-being is the main key to businesses’ long-term success. Employer needs to ensure the well-being of their employees. And, the employer is also liable to compensate them in case they suffer any injury, death, illness, or property damage due to work-related accidents. Workers’ compensation insurance is designed to provide financial assistance to employers and […]
Can one get Workers’ Compensation and sue his employer?
Workers’ compensation is a program mandated by the government to compensate workers for the losses they suffer due to work-related accidents. The government has made it compulsory for employers to pay compensation benefits to their employees. If they suffer injury, disability, death, or illness while performing their duties at the workplace. For example, you are […]
Workmanship Compensation Policy for SMEs: Opportunities and Key Strategies
Employees are the most valuable assets of any company. Especially for small businesses that are thriving to grow, it is crucial to create a healthy and safe work environment for their employees. A safe workplace can boost employees’ productivity. However, it is a challenging task and a huge responsibility for SMEs. Despite all the safety […]
Decoding Labor Insurance: Why It Matters for Regular Employees and Hired Labor
Labor power is the only capital that every working laborer possesses for their livelihood. Government has thus made it mandatory for the employer to compensate the labor for losses suffered due to workplace accidents. As per the labor protection laws, the government has made provisions of social guarantees for the affected laborers in accidental mishaps. […]
What are the components of employment injury benefits under WC Policy?
Components of Employment Injury Benefits under WC Policy Having an accident in the workplace can be devastating, both emotionally and financially. In India, the employer is liable to compensate the employee for financial losses arising due to such incidents as per the Workmen Compensation Act, 1923. Insurance policies are designed to assist individuals who sustain […]
Change of rules to the Workmen’s compensation policy in 2020
The Workers’ Compensation Act ensures compensation and support for workers injured on the job. It applies to various industries including factories, mines, etc. It provides financial aid and medical care. The Employee compensation policy provides protection to employees against work-related injuries and illnesses. It aims to relieve workers of the financial burden by holding employers […]
Workers Compensation Insurance Benefits in Case Injury was Due to Own’s Fault
Workers’ Compensation Insurance is a critical component of safeguarding employees’ well-being and financial security in organizations. It offers coverage and benefits to employees who are injured or unwell at work. However, an employee’s damage may occur as a result of their own carelessness or negligence. In such instances, it is critical to comprehend the consequences […]
Video- What are the important features of Workmen Compensation insurance?
Important features of Workmen Compensation Insurance At SecureNow, our team of experts can help you navigate the complexities of the Employee Compensation Act and employee compensation policy. With our in-depth knowledge and experience, we can guide you toward the right policy that meets your unique needs. Contact us today to learn more! For further queries related […]