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 injuries or become disabled at work due to work-related incidents. The benefits under these employee compensation insurance policies include medical costs reimbursement, lost wages compensation, permanent disability payments, death benefits for families of employees killed at work, and vocational rehabilitation services for individuals unable to return to their prior job duties.
Employees must follow the procedures established by the company’s Workers’ Compensation Insurance provider in order to receive these benefits legally. After sustaining an injury, employees should promptly inform their employers to begin the claims process and ensure accurate completion of paperwork. Being knowledgeable of one’s rights under WC Policy will help ensure that an affected employee gets all deserved coverage benefits without any hassle or dispute with workers’ compensation insurance companies or employers.
Components of Employment Injury Benefit
The Workmen Compensation Act, of 1923 has made it mandatory for every employer to compensate the employees in case they suffer a loss due to work-related accidents or occupational diseases. The act’s provisions aim to protect workmen from the financial burden caused by work-related accidents or illnesses. It not only helps employees but also protects employers from lawsuits.
The following are the components of employment injury benefits under the workmen’s compensation policy. The amount of claim in each component is decided as per the provisions of the Workmen Compensation Act, 1963 based on the age factor, wages, number of days of disability, and the extent of disability.
Death Benefit
In case a workman/employee dies due to work-related accidents or injuries, the workmen compensation policy/ labour insurance policy offers death compensation to the family along with the funeral expenses.
Accidental Injury Benefit
In the event of a workplace accident, the insured employee receives compensation. That is defined by the Workmen Compensation Act for bodily injury.
Disability Benefit
Injuries suffered by employees due to work-related accidents may result in disabilities. Workmen’s compensation insurance compensates employees for treatment costs and lost income during the recovery period in cases like these. However, compensation may vary depending on the type of disability and the extent of disability. The workmen’s compensation policy covers the following disabilities.
- Permanent total disability
- Permanent partial disability
- Temporary total disability
- Medical Cover
Work-related injuries and occupational illnesses may require long-term treatment which may lead to huge healthcare costs for the affected workman. The employee compensation policy provides medical cover to compensate the same.
To claim these benefits, an employee must first inform his/her supervisor about the incident leading up to the injury. Following that, they have two weeks from when they discover their injuries or disturbances in their physical condition in order to file their claims with appropriate medical documentation at the WC policy online portal.
Additionally, claimants need proof of employment at least 30 days before being hurt in order for a valid claim and must additionally seek treatment from a qualified doctor approved by both parties (employer and employee). It’s worth noting that many employers choose not to offer this coverage. Hence, it is essential for everyone involved to discuss these details before entering into a contractual agreement.
Conclusion
The Workmen’s Compensation Act of 1923 was a landmark in India’s history, offering employees legal protection from workplace accidents and injuries. This Act held employers accountable for any medical expenses and compensation due to the injured party or their family in the case of death.
