Employee 's age -37
Factor -192.14
Basic salary -24000
Nature of injury- permanent partial disablement ( Right Middle finger one and a half inch amputated and thumb one inch amputated) loss of earning capacity 27%
Can anyone tell me what is the correct formula/basis of calculation?
From India, Bengaluru
Factor -192.14
Basic salary -24000
Nature of injury- permanent partial disablement ( Right Middle finger one and a half inch amputated and thumb one inch amputated) loss of earning capacity 27%
Can anyone tell me what is the correct formula/basis of calculation?
From India, Bengaluru
The age factor and wages for calculating compensation payable applies mainly in death cases. In permanent total disablement, the compensation is 60% of the wages (maximum wages is Rs 15000, hence 60% of 15000 shall be taken even if the wages is Rs 24000) multiplied by the age factor, say 192.14. For partial disablement, the valuation of loss of earning capacity should be made by the Competent authority under the Employees Compensation Act. Moreover, no compensation is payable directly by the employer or the insurance company without getting an order from the Workmen Compensation Commissioner. Therefore, you are advised to approach the area Workmen Compensation Commissioner for the order. he will assess the loss of earning capacity and decide what is the amount of compensation payable by the Insurers/ employer.
From India, Kannur
4240From India, Kannur
Apart from the mathematical percentages prescribed in the schedule on the loss of earning capacity, it is to be seen as to how much the employee's performance is adversely affected due to the physical loss suffered. For instance a driver's loss of earning capacity is 100% if one leg is amupted below the ankle or 3/4 fingers are amputed.
From India, Mumbai
From India, Mumbai
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