Dear All,
we pray to god that no accidents should happen in any factories. no people/ employee suffer due to that. no one dies.
but if unfortunately somebody dies due to accident then???????
i have attached excel sheet for calculating compensation in that case...
From India, Mumbai
121we pray to god that no accidents should happen in any factories. no people/ employee suffer due to that. no one dies.
but if unfortunately somebody dies due to accident then???????
i have attached excel sheet for calculating compensation in that case...
From India, Mumbai
Suhas, it is a good initiative. But please note that the minimum compensation for death cases is Rs 120000 and the maximum salary for the purpose of compensation is Rs 8000. Therefore, you have to take 50% of the maximum salary, that is the maximum salary factor will be Rs 4000, ie, 50% of 8000. In your sheet we get less than 120000 when we enter less salary and we are able to enter salary of more than Rs 8000,which should be restricted. Please put both the caps in your excel calculation so that it can be used by HR persons.
Regards,
Madhu.T.K
From India, Kannur
Regards,
Madhu.T.K
From India, Kannur
Dear Madhu Sir, Thanks for your reply. I have ammended the file as per your valuable suggestions. looking for your veiws for any further modifications.
From India, Mumbai
From India, Mumbai
Dear Suhas,
Kindly Cross check the relevant factor as for age 52 it is Rs. 146.20 but your sheet is showing Rs. 166.29.
Completed years of age on the last birthday of the workman immediately preceding the date on which the compensation fell due-
Age Factor
Not more than 16 . . . 228.54
17 . . . . . . 227.49
18 . . . . . . 226.38
19 . . . . . . 225.22
20 . . . . . . 224.00
21 . . . . . . 222.71
22 . . . . . . 221.37
23 . . . . . . 219.95
24 . . . . . . 218.47
25 . . . . . . 216.91
26 . . . . . . 215.28
27 . . . . . . 213.57
28 . . . . . . 211.79
29 . . . . . . 209.92
30 . . . . . . 207.98
31 . . . . . . 205.95
32 . . . . . . 203.85
33 . . . . . . 201.66
34 . . . . . . 199.40
35 . . . . . . 197.06
36 . . . . . . 194.64
37 . . . . . . 192.14
38 . . . . . . 189.56
39 . . . . . . 186.90
40 . . . . . . 184.17
41 . . . . . . 181.37
42 . . . . . . 178.49
43 . . . . . . 175.54
44 . . . . . . 172.52
45 . . . . . . 169.44
46 . . . . . . 166.29
47 . . . . . . 163.07
48 . . . . . . 159.80
49 . . . . . . 156.47
50 . . . . . . 153.09
51 . . . . . . 149.67
52 . . . . . . 146.20
53 . . . . . . 142.68
54 . . . . . . 139.13
55 . . . . . . 135.56
56 . . . . . . 131.95
57 . . . . . . 128.33
58 . . . . . . 124.70
59 . . . . . . 121.05
60 . . . . . . 117.41
61 . . . . . . 113.77
62 . . . . . . 110.14
63 . . . . . . 106.52
64 . . . . . . 102.93
65 or more . . . . .99.37
Subs. by Act 22 of 1984, sec. 7, for Schedule IV (w.e.f. 1-7-1984).
From India, Kota
Kindly Cross check the relevant factor as for age 52 it is Rs. 146.20 but your sheet is showing Rs. 166.29.
Completed years of age on the last birthday of the workman immediately preceding the date on which the compensation fell due-
Age Factor
Not more than 16 . . . 228.54
17 . . . . . . 227.49
18 . . . . . . 226.38
19 . . . . . . 225.22
20 . . . . . . 224.00
21 . . . . . . 222.71
22 . . . . . . 221.37
23 . . . . . . 219.95
24 . . . . . . 218.47
25 . . . . . . 216.91
26 . . . . . . 215.28
27 . . . . . . 213.57
28 . . . . . . 211.79
29 . . . . . . 209.92
30 . . . . . . 207.98
31 . . . . . . 205.95
32 . . . . . . 203.85
33 . . . . . . 201.66
34 . . . . . . 199.40
35 . . . . . . 197.06
36 . . . . . . 194.64
37 . . . . . . 192.14
38 . . . . . . 189.56
39 . . . . . . 186.90
40 . . . . . . 184.17
41 . . . . . . 181.37
42 . . . . . . 178.49
43 . . . . . . 175.54
44 . . . . . . 172.52
45 . . . . . . 169.44
46 . . . . . . 166.29
47 . . . . . . 163.07
48 . . . . . . 159.80
49 . . . . . . 156.47
50 . . . . . . 153.09
51 . . . . . . 149.67
52 . . . . . . 146.20
53 . . . . . . 142.68
54 . . . . . . 139.13
55 . . . . . . 135.56
56 . . . . . . 131.95
57 . . . . . . 128.33
58 . . . . . . 124.70
59 . . . . . . 121.05
60 . . . . . . 117.41
61 . . . . . . 113.77
62 . . . . . . 110.14
63 . . . . . . 106.52
64 . . . . . . 102.93
65 or more . . . . .99.37
Subs. by Act 22 of 1984, sec. 7, for Schedule IV (w.e.f. 1-7-1984).
From India, Kota
Dear AKKI79, first up all thanks for identifying error with the formula. I have rectified the error. Hope this is correct this time. Waiting for your feedback.
From India, Mumbai
From India, Mumbai
Hi Dear,
Multiplication factor is based on loss of anticipated income if the person was alive.
This factor is given in Schedule IV as per section 4 of Employee's Compensation Act 1923.
Please read section 4 of the act.
From India, Mumbai
Multiplication factor is based on loss of anticipated income if the person was alive.
This factor is given in Schedule IV as per section 4 of Employee's Compensation Act 1923.
Please read section 4 of the act.
From India, Mumbai
Dear All, Compensation calculator for all type of Injuries partial disablement, perment disablement and death. Please give your comments.
From India, Mumbai
From India, Mumbai
Dear all
I am very new to this calculation of compensation in case of deceasd employee so please help me learn by answering some of my questions-
As madhu sir said that the maximum salary for the purpose of compensation is Rs 8000. Therefore, you have to take 50% of the maximum salary, that is the maximum salary factor will be Rs 4000, ie, 50% of 8000,then why the excel sheet salary component is accepting 5000,6000,7000 and 8000 also.
Please clarify.
From India, Ghaziabad
I am very new to this calculation of compensation in case of deceasd employee so please help me learn by answering some of my questions-
As madhu sir said that the maximum salary for the purpose of compensation is Rs 8000. Therefore, you have to take 50% of the maximum salary, that is the maximum salary factor will be Rs 4000, ie, 50% of 8000,then why the excel sheet salary component is accepting 5000,6000,7000 and 8000 also.
Please clarify.
From India, Ghaziabad
Dear Excel sheet will accept any figure you enter but it will calculate on basis of 8,000 as maximum salary.(it will auto consider) you can verify by calculating on calculator. it will auto give result as 120000 as minimum compensation.
Try it out. best luck.
From India, Mumbai
Try it out. best luck.
From India, Mumbai
Dear Madhu Sir,
sorry iam sending this query to this thread however it was urgent.
i want some clarification on OT payments under factory act:
1. is it mandatory that OT is payable on Gross with all allowances like Cony Allow, CCA, Washing Allow etc.
2. is it mandatory that OT is payable double on gross
3. If OT is paid double on gross then is it mandatory to pay night allow also.
pl guide.
regards,
Swarnalata
From India, New Delhi
sorry iam sending this query to this thread however it was urgent.
i want some clarification on OT payments under factory act:
1. is it mandatory that OT is payable on Gross with all allowances like Cony Allow, CCA, Washing Allow etc.
2. is it mandatory that OT is payable double on gross
3. If OT is paid double on gross then is it mandatory to pay night allow also.
pl guide.
regards,
Swarnalata
From India, New Delhi
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EMPLOYEES' COMPENSATION ACT - IMP- PROVISIONS IN TELUGU VERSION.pdf