Hi, Can anybody clear if i am having WC policy for 20 workmen the coverage is for all 3 shifts having 20 workmen in each shift. Regards, Mayank
From India, Hyderabad
1From India, Hyderabad
Dear Mayank,
In my opinion your coverage may not protect you because, if I am right insurance company will seek for information of age and wages of the workmen. If the workman who has met with the accident does not match the age profile of the insurance cover then you may run the risk of paying the compensation amount. However, the best person will be the insurance company representative on this aspect. I have heard that there is a provision for an open ended policy without naming people. Please cross verify the matter.
Regards
M.V.KANNAN
From India, Madras
In my opinion your coverage may not protect you because, if I am right insurance company will seek for information of age and wages of the workmen. If the workman who has met with the accident does not match the age profile of the insurance cover then you may run the risk of paying the compensation amount. However, the best person will be the insurance company representative on this aspect. I have heard that there is a provision for an open ended policy without naming people. Please cross verify the matter.
Regards
M.V.KANNAN
From India, Madras
Dear Mayank,
As far as my knowledge goes for WC Policy, Insurane company need these details for WC Policy:
1. No of Workers to be covered.
2. WC insurance coverage period. From To.
3. Wages of the workers during coverage period.
4. Nature of job in which the workers to be engaged or Work order in case of contract labour.
5. Nature of job in respect of risk involved (for premium amount)
I do not have any idea whether 'Age' is a factor in case of WC Insurance or not but generally I have never seen any policy where the age of the workers are mentioned. So I think in your case if the number of workers covered under WC Policy is 20 and each shift having 20 workers, there is no risk involved as far payment of compensation by the insurance company in case of accident is concerned. But make sure that at any shift the number of workers should not exceed 20. However if any time you will be required to engage more than 20 do not keep any documentary proof of that.
Regard.
Jawed Alam
From India, Dhanbad
As far as my knowledge goes for WC Policy, Insurane company need these details for WC Policy:
1. No of Workers to be covered.
2. WC insurance coverage period. From To.
3. Wages of the workers during coverage period.
4. Nature of job in which the workers to be engaged or Work order in case of contract labour.
5. Nature of job in respect of risk involved (for premium amount)
I do not have any idea whether 'Age' is a factor in case of WC Insurance or not but generally I have never seen any policy where the age of the workers are mentioned. So I think in your case if the number of workers covered under WC Policy is 20 and each shift having 20 workers, there is no risk involved as far payment of compensation by the insurance company in case of accident is concerned. But make sure that at any shift the number of workers should not exceed 20. However if any time you will be required to engage more than 20 do not keep any documentary proof of that.
Regard.
Jawed Alam
From India, Dhanbad
Dear Jawed,
In the event of a compensation payable owing to disablement the amount is worked based on the relevant factor displayed against his age. The compensation amount is based on the loss of earning capacity and hence younger the age more the compensation. This was the basis on which I indicated age could be a factor. As I wasn't sure of the exact terms and conditions of the WC insurance policies offered by insurance companies now, I felt that the insurance company was the best source.
A few years back our contractor took an open ended insurance policy with a leading insurance company. But as there was no issue arose during the period I did not go through the operational procedures.
Regards
M.V.KANNAN
From India, Madras
In the event of a compensation payable owing to disablement the amount is worked based on the relevant factor displayed against his age. The compensation amount is based on the loss of earning capacity and hence younger the age more the compensation. This was the basis on which I indicated age could be a factor. As I wasn't sure of the exact terms and conditions of the WC insurance policies offered by insurance companies now, I felt that the insurance company was the best source.
A few years back our contractor took an open ended insurance policy with a leading insurance company. But as there was no issue arose during the period I did not go through the operational procedures.
Regards
M.V.KANNAN
From India, Madras
Open ended policy is available. But you have to indicate the wages of employees to arrive at the premium charges. Age/name need not be given. But you have to take insurance coverage for 60 workmen as you are engaging 20 workmen for each shift.
Regards
R.Ponraj
From India, Lucknow
Regards
R.Ponraj
From India, Lucknow
Dear M.V.KANNAN.
You are absolutely correct. At the time of calculating the Compensation payable to a workman due to accident arising out of and in the course of employement, age is a vital factor. Depending upon age the Compensation amount is calculated (Relevant factor as u mentioned) but just think of the Contractors, they very frequently changes their workers, in their case it would not possible for them to identify the age of future workers. That is why Insurance Companies generally do not want to know the age of the workers. So for getting your workers covered under WC Policy, age is not a factor but for calculating the amount of compensation Age is a vital factor.....
So if you have done WC Policy for 50 workers at a time and an worker died due to accident, whatever the amount the WC Commissioner will calculate, it will be responsibilty of Insurance Company to pay the amount.
Regards.
Jawed Alam
From India, Dhanbad
You are absolutely correct. At the time of calculating the Compensation payable to a workman due to accident arising out of and in the course of employement, age is a vital factor. Depending upon age the Compensation amount is calculated (Relevant factor as u mentioned) but just think of the Contractors, they very frequently changes their workers, in their case it would not possible for them to identify the age of future workers. That is why Insurance Companies generally do not want to know the age of the workers. So for getting your workers covered under WC Policy, age is not a factor but for calculating the amount of compensation Age is a vital factor.....
So if you have done WC Policy for 50 workers at a time and an worker died due to accident, whatever the amount the WC Commissioner will calculate, it will be responsibilty of Insurance Company to pay the amount.
Regards.
Jawed Alam
From India, Dhanbad
dear Mayank,
Always WC Premium calculated on the basis of the salary paid for the workers for their number of days of work. In your case you should keep in mind the number of workers, The number of days worked and during that period the amount of salary paid. accordingly you should inform the matter to the insurance company and pay the premium.
Regards
Sham
From India, Mangaluru
Always WC Premium calculated on the basis of the salary paid for the workers for their number of days of work. In your case you should keep in mind the number of workers, The number of days worked and during that period the amount of salary paid. accordingly you should inform the matter to the insurance company and pay the premium.
Regards
Sham
From India, Mangaluru
Dear Mayank
As per my experience the view given by Mr. R. Ponraj is correct. Insurance coverage should be for the maximum number of workmen engaged. In your case coverage should be for 60 workmen.
Regards
Subrata
From India, Calcutta
As per my experience the view given by Mr. R. Ponraj is correct. Insurance coverage should be for the maximum number of workmen engaged. In your case coverage should be for 60 workmen.
Regards
Subrata
From India, Calcutta
You will have to take 60 nos. workman WC Policy because at the time of any WC claim settlement, auditor will ask you for Wage Register & Attendance register, if no. of workman exceeds from the coverage of policy in attendace register. The claim will not be settled.
From India
From India
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