Dear Friends and Gurus,
Please let me know whether there is any provision in the Workmen's Compensation Act to take out a Workmen's Compensation policy from an insurance company to mitigate the risk of accidents. If not, then should an SB A/c be opened, or can it be managed with the current account?
In the case of the aforementioned Act, if an employee meets with an accident inside the company premises and has to be compensated, should the medical expenditure borne by the victim be considered along with the Workmen's Compensation calculation or not?
Please provide a brief explanation at your earliest convenience.
Sumana.
From India, Bangalore
Acknowledge(0)
Amend(0)
8Please let me know whether there is any provision in the Workmen's Compensation Act to take out a Workmen's Compensation policy from an insurance company to mitigate the risk of accidents. If not, then should an SB A/c be opened, or can it be managed with the current account?
In the case of the aforementioned Act, if an employee meets with an accident inside the company premises and has to be compensated, should the medical expenditure borne by the victim be considered along with the Workmen's Compensation calculation or not?
Please provide a brief explanation at your earliest convenience.
Sumana.
From India, Bangalore
Acknowledge(0)Amend(0)
Dear Sumana,
Let me clarify first that where the ESI Act will be applicable, workmen compensation will not be applicable. This means that whoever is entitled to benefits from ESI will not receive any benefits from the WMC Act.
It is not necessary to take insurance against this act through any insurance companies; however, you can do so if you wish. There is no need to have an SB account for this purpose.
Workmen compensation calculation does not have any relation to medical expenses.
Regards,
JS Malik
From India, Delhi
Acknowledge(0)Amend(0)
Let me clarify first that where the ESI Act will be applicable, workmen compensation will not be applicable. This means that whoever is entitled to benefits from ESI will not receive any benefits from the WMC Act.
It is not necessary to take insurance against this act through any insurance companies; however, you can do so if you wish. There is no need to have an SB account for this purpose.
Workmen compensation calculation does not have any relation to medical expenses.
Regards,
JS Malik
From India, Delhi
Acknowledge(0)Amend(0)
Dear Malikji,
Thank you for the information. We are not covered under ESI; hence, the WC Act applies. Malikji, please tell me the rate of interest applicable for the delay in compensating the workmen for permanent disablement under the WC Act.
Regards,
Sumana
From India, Bangalore
Acknowledge(0)Amend(0)
Thank you for the information. We are not covered under ESI; hence, the WC Act applies. Malikji, please tell me the rate of interest applicable for the delay in compensating the workmen for permanent disablement under the WC Act.
Regards,
Sumana
From India, Bangalore
Acknowledge(0)Amend(0)
It is not mandatory for a company to provide ESI (Employee State Insurance) or personal accident insurance. However, it is advisable to consider offering these benefits to employees for their well-being and security.
Our company is quite small, focusing on agro products such as vegetable seed development and export. Despite our size, we strive to create a safe and supportive work environment for all our employees.
Thank you,
Alok
From India, Kochi
Acknowledge(0)Amend(0)
Our company is quite small, focusing on agro products such as vegetable seed development and export. Despite our size, we strive to create a safe and supportive work environment for all our employees.
Thank you,
Alok
From India, Kochi
Acknowledge(0)Amend(0)
Dear Alok,
If your company is covered under the ESI Act of 1948, then you do not require any insurance coverage. If the employee is not covered under this Act, then it is not compulsory to have any insurance or personal accident insurance coverage for them. However, in that case, if any liability accrues, the employer will have to bear that liability from their own account. We used to have a W C policy/insurance to avoid any sudden heavy burden on the employer's pocket.
Regards,
R.N.Khola
From India, Delhi
Acknowledge(0)Amend(0)
If your company is covered under the ESI Act of 1948, then you do not require any insurance coverage. If the employee is not covered under this Act, then it is not compulsory to have any insurance or personal accident insurance coverage for them. However, in that case, if any liability accrues, the employer will have to bear that liability from their own account. We used to have a W C policy/insurance to avoid any sudden heavy burden on the employer's pocket.
Regards,
R.N.Khola
From India, Delhi
Acknowledge(0)Amend(0)
Dear Team,
I have a clarification. I am working in the software industry, and our company falls under the Shop and Establishment Act in Tamil Nadu.
My question is, if we engage a vendor or service provider for company purposes such as cleaning, AMC, etc., do they need to comply with the Workman Compensation Policy as per local regulations in India? These vendors already adhere to PF and ESIC requirements as per local regulations.
Please provide me with your valuable answer.
Regards,
Venkatesan J
From India, Chennai
Acknowledge(0)Amend(0)
I have a clarification. I am working in the software industry, and our company falls under the Shop and Establishment Act in Tamil Nadu.
My question is, if we engage a vendor or service provider for company purposes such as cleaning, AMC, etc., do they need to comply with the Workman Compensation Policy as per local regulations in India? These vendors already adhere to PF and ESIC requirements as per local regulations.
Please provide me with your valuable answer.
Regards,
Venkatesan J
From India, Chennai
Acknowledge(0)Amend(0)Looking for something specific? - Join & Be Part Of Our Community and get connected with the right people who can help. Our AI-powered platform provides real-time fact-checking, peer-reviewed insights, and a vast historical knowledge base to support your search.