The Workmen Compensation Act, of 1923 provides for the payment of compensation to workmen and their dependents in case the workmen get injured or die in workplace accidents or contract an occupational illness during the course of employment. As per the provisions of the Act, the employer is liable to pay compensation to the workmen […]
How to Determine Post Hospitalization Medical Expenses in a Worker Compensation Insurance?
A worker’s compensation policy applies to accident-related bodily injury or illness due to work. To avail of the benefit of this type of policy, it is important that the worker should have suffered bodily injury or an accident during the policy period. A workmen’s compensation policy covers both the pre-hospitalization charges and the post-hospitalization charges […]
Why is a Workman Compensation Insurance policy compulsory?
Employees in high-risk businesses may experience work-related health issues and accidents. The Workman Compensation Act, 1923, addresses concerns about lost income and healthcare costs in such cases. Also, renamed the act as Employees Compensation Act, 1923. As per the rules in the Workmen Compensation Act, workers who get injured at work or experience certain work-related […]
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 the Workmen Compensation policy and Employee State Insurance. Despite several similarities in terms of benefits, there are differences in the application and functioning of both […]
Workmen’s Compensation: What you need to know as an Employer
Irrespective of the type or size of your business, employees or workers are the real reason for your success. Therefore, providing a safe and conducive working atmosphere to your employees is indispensable. However, one can’t deny the fact that accidents or injuries can happen in a safe workplace also. An employer has to provide compensation […]
What are the legal rights of the Company after the loss under Workers Compensation Insurance?
The workers’ compensation (WC) insurance policy safeguards organizations from the threat of expensive legal suits and financial liabilities. Employees’ compensation insurance policy is the other name for it. Let’s look at the rights of the company after the loss under Workers’ Compensation Insurance. Rights Of Employers Under WC Policy The companies/employers that purchase the insurance […]
What Are the Different Type of Medical Expenses Covered Under A Workmen Compensation Policy?
Under a workmen compensation insurance policy, a buyer can purchase medical expenses cover as an add-on. Different insurers define the limit of medical benefits differently. Some of these options are: A fixed sum (per case) daily, for the duration of hospitalization. The actual amount spent up to the total sum insured as defined at the […]
What Does “All Employees Covered” Assumption Mean in WC Policy?
Most organizations purchase workmen compensation insurance as an annual contract. However, the number of workers in any organisation could keep changing throughout the year. Thus, any or both of the following two situations may occur at the time of a claim: Number of workers employed by the insured is different from what was provided at […]
When to File Claim Application under Workmen Compensation Insurance?
A claim application for workmen compensation benefits should be filed by the workman immediately after an accident occurs. When a workman suffers injury in employment and while on duty then he should file for a compensation claim. Also, when a worker is diagnosed with a disease arising due to the nature of his work then […]
Steps To Take When Your Employee Is Injured At Work
The world is full of uncertainties, and no one can predict their fate, but we keep on trying for a better tomorrow. Similarly, your organization is your little world where you try your best for your employee’s safety. But sometimes worst things can happen like a workplace injury or illness that not only affects your […]