Who are Considered Dependents in Case of Workers’ Compensation Insurance?

As per the legal definition of The Employees’ Compensation Act, 1923, the workers/employees of an organisation, and their dependents, both recognised under the worker compensation insurance, are entitled to the monetary benefit. Only if the workplace accident or injury, results in the death of an employee, the dependent is entitled to the insurance benefit. The […]

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What Is Workers’ Compensation?

Workers’ Compensation or Workmen Compensation refers to the monetary compensation offered to workers or employees of an organization, firm, household or any establishment in lieu of his/her injuries sustained while involved in the employment related activities. An important factor to note about worker’s compensation is that it is only applicable in the case, where the […]

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ESI or W.C. Which Is Applicable to My Organisation?

It depends on the number of employees you have and the type of employees you are engaging in your business. Following table gives you a fair idea of conditions for applicability of both the legislations: sr. # e.s.i. conditions w.c. conditions 1. organisation is a non-seasonal organization/factory any organisation employing persons in menial jobs (other than clerical […]

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Who Should Buy Workers Compensation Policy?

Workmen compensation insurance can be bought by any firm or employer, a contractor who employs the workmen as defined in the W.C. Act 1923 should buy the insurance policy to cover the liability. The examples can be outlined in the following points: Firms, corporate or association or persons employing workers on contract Any Indian firm […]

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How Is Premium Estimated for Worker’s Compensation Insurance?

The premium (tariff) is governed by the type of cover selected by the proposer as decided by the insurance regulator in India IRDA. Following two types of covers are available under Workmen (now Employees) Compensation Insurance: Table A: Indemnity against legal liability for accident to employees under Workmen’s Compensation Act 1993 Fatal Accident Act 1855 […]

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