Workmen Compensation
Why there is a need for Workmen Compensation insurance? A workmen’s compensation policy is a commercial insurance policy that covers the legal liability of an employer under the Workmen Compensation Act of India, which is monitored by the Ministry of Labour & Employment. Laborers have the highest probability of injuries or death on the worksite […]
How to choose the best insurance provider for WC Policy? Workmen or employees are the most valuable assets of any company. The responsibility to provide them with a safe working environment lies with the employer. In this regard, every employer lays down various safety measures. However, accidents at the workplace are unexpected. Accidents may lead […]
Why do I need workmen compensation policy? Workers and employees are always at risk of suffering employment-related hazards during the their employment term. Often labourers have the highest probability of injuries or death on the work site. An organization becomes financially responsible to compensate workers/ or their family members for losses suffered due to: any […]
Implication of Workmen’s Compensation Act, 1923 and Factories Act, 1948on a Business Owner. Introduction The Factories Act, 1948 and the Workmen’s Compensation Act are based on the idea of improving working conditions. These Acts intends to regulate the health and safety of young persons, women and children employed in the factories. They offer exhaustive coverage […]
10 Things business owners must do to comply with Workmen’s Compensation Act, 1923 &Factories Act, 1948 The Workmen’s Compensation Act 1923 and Factories Act, 1948 protects the interest of the workers and also provides financial liability protection to employers. The Acts intends to improve working conditions and regulates the health and safety of young persons, […]
What are the Statutory Requirements for Workers’ Compensation Insurance? An employer can take the Workers’ Compensation Insurance to get protection against financial uncertainties. It covers the risk of injury, disease and death of an employee at the workplace. Note that buying a workman compensation insurance is not mandatory but paying workers a compensation on injury […]
What is the difference between the WC policy and ESIC? Workers in India have access to various health insurance and social security schemes to safeguard their interests during contingencies. Two of the security benefits offered to workers in India are Workmen Compensation policy and Employee State Insurance. Despite several similarities in terms of benefits, there are […]
Workmen’s Compensation: What you need to know as an Employer A worker was killed, and four others were injured during a mishap at a private stainless-steel plant in Jaipur. Irrespective of the type or size of your business, employees or workers are the real reason for your success. Therefore, providing a safe and a conducive […]
What are the rights of the Company after the loss under Workers Compensation Insurance? The workers’ compensation (WC) insurance policy safeguards organisations from the threat of expensive legal suits and financial liabilities. Employees’ compensation insurance policy is the other name for it. Rights Of Employers Under WC Policy The companies/employers that purchase the insurance policy […]
The Workmen Compensation Act, 1923 recognizes both the employees of an organisation, and their dependents as beneficiaries.The worker compensation insurance entitles both to receive the monetary benefit. The dependent is entitled to the insurance benefit in case of a workplace accident or injury, resulting in the death of an employee. However, the survivor benefits are […]
