An employer can take 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 workman compensation insurance is not mandatory but paying workers compensation on injury is mandatory. Therefore, many manufacturers need to buy statutory requirements for Workers […]
What does Workmen Compensation Insurance Policy cover?
The Workmen compensation insurance policy is a product designed to ensure the employer against their liability towards the workers in case of an injury at the workplace. Key Takeaways A Calculable Limit: The primary beauty of the Act is that it limits an employer’s financial responsibility to a “calculable amount,” preventing a situation where a […]
Why is workman’s compensation policy is a must for Organisations?
While organizations try to make the workplace as safe as possible, accidents can happen anytime. According to the report published in a leading newspaper, the Ministry of Labour reported an average incidence of 1,400 fatal and 1 lakh non-fatal accidents in non-domestic places. It is the employers’ responsibility to ensure their workers are working in […]
What is the Workmen Compensation Insurance Policy?
Today’s global work environment has turned the spotlight on employees’ rights. To safeguard organizations from the threat of costly lawsuits and other financial liabilities insurers offer the Workmen Compensation Insurance Policy (WC Policy). It covers the statutory liability of an employer for the death, injury or occupational disease of an employee at the workplace. As […]
Know all about the Workman Compensation Insurance Policy and its Benefits
In today’s highly competitive work environment, employees’ rights have also moved forward. Providing a safe and secure work atmosphere is one of the main responsibilities of an employer. However, one can’t deny the fact that injuries at the workplace are a common part of businesses. To keep your business safe from expensive legal problems and […]
Why Should You Make Workmen Compensation Policy An Imperative Part Of Your Business?
As a business owner, one of your priorities is to increase the volume of your earnings in a fair and ethical manner. You need to protect all your assets and proceedings. For this, you need to adhere to government norms and also ascertain the welfare of your employees. Providing your employees with a workmen compensation […]
General Questions on Workmen Compensation Insurance / Employee Compensation Insurance
Q1. What is Workmen’s Compensation Insurance? Mandatory Insurance protects your liability as an employer for employment injury (including death) of any of your employees who is a ‘workman’ as defined under the Workmen Compensation Act, 1923 Q2. What is covered under workmen’s compensation insurance? 1. Death 2. Permanent total disablement 3. Permanent partial disablement 4. […]
Can I sue my employer for not having worker’s compensation?
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 has 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 of […]
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 […]