Dear All, Could any one light on how to calculate employee comensation as per Workman Compensation Act -1923... Prasad. Bangalore
From India, Bangalore
From India, Bangalore
Dear Prasad,
Amount of compensation is calculated as per section 4 of the Employees' Compensation Act, 1923 & therefore go through this section for your query.
With Regards,
R.N.Khola
From India, Delhi
363Amount of compensation is calculated as per section 4 of the Employees' Compensation Act, 1923 & therefore go through this section for your query.
With Regards,
R.N.Khola
From India, Delhi
1. Compensation In case of Death:Sec 4(1)(a) - 50% of monthly wages or an amount of 1, 20,000 which ever is more.
50 x Monthly wages x Relevant factor
-----------------------------------------------
100
And Rs.2500/- extra for funeral expenses u/s 4(4) by amendment of 2006
2. In case of Permanant Total Disablement:Sec 4(1)(b) - 60% of monthly wages or an amount of 1, 40,000/- whichever is more
60 x Monthly wages x Relevant factor
-----------------------------------------------
100
From India, Nasik
50 x Monthly wages x Relevant factor
-----------------------------------------------
100
And Rs.2500/- extra for funeral expenses u/s 4(4) by amendment of 2006
2. In case of Permanant Total Disablement:Sec 4(1)(b) - 60% of monthly wages or an amount of 1, 40,000/- whichever is more
60 x Monthly wages x Relevant factor
-----------------------------------------------
100
From India, Nasik
Dear Member,
Relevant factor is provided by schedule IV of the Employees Compensation Act, 1923.
R.N.KHOLA
From India, Delhi
Relevant factor is provided by schedule IV of the Employees Compensation Act, 1923.
R.N.KHOLA
From India, Delhi
Please light me why should we calculate gross salary/1000*15....to pay a associate under this act... Regards Bikash Konwar
From India, Guwahati
From India, Guwahati
Under Workmen's Compensation Act, compensation is calculated as follows:
1. For accidents resulting in death, an amount equal to fifty per cent of the monthly wages of the deceased workman multiplied by the relevant factor (based on the age of employee); or an amount of one lakh twenty thousand rupees, whichever is more
2. For permanent total disablement, an amount equal to sixty per cent of the monthly wages of the injured workman multiplied by the relevant factor, or an amount of one lakh forty thousand rupees, whichever is more.
Maximum wages for the purpose of calculation of compensation is fixed at Rs 8000. Therefore, 50%/ 60%, as the case may be the salary at the time of accident or death subject to a maximum of 8000 shall be multiplied by the relevant factor given below to calculate compensation.
Factors as per schedule IV
Completed Factor for Compl. year Factor for comp
year of age for comp. of age
not more than 16 228.54 Not more than 41 181.37
17 227.49 42 178.49
18 226.38 43 175.54
19 225.22 44 172.52
20 224.00 45 169.44
21 222.71 46 166.29
22 221.37 47 163.07
23 219.95 48 159.80
24 218.47 49 156.47
25 216.91 50 153.09
26 215.28 51 149.67
27 213.57 52 146.20
28 211.79 53 142.68
29 209.92 54 139.13
30 207.98 55 135.56
31 205.98 56 131.95
32 203.85 57 128.33
33 201.66 58 124.70
34 199.40 59 121.05
35 197.06 60 117.41
36 194.64 61 113.77
37 192.14 62 110.14
38 189.56 63 106.52
39 186.90 64 102.93
40 184.17 65 or more 99.37
The Act also provides that Medical expenses in connection with accident is to be to be met by the employer without any limit.
The Funeral expenses subject to a maximum of Rs 5000 is also to be paid to the dependents.
Regards,
Madhu.T.K
From India, Kannur
1. For accidents resulting in death, an amount equal to fifty per cent of the monthly wages of the deceased workman multiplied by the relevant factor (based on the age of employee); or an amount of one lakh twenty thousand rupees, whichever is more
2. For permanent total disablement, an amount equal to sixty per cent of the monthly wages of the injured workman multiplied by the relevant factor, or an amount of one lakh forty thousand rupees, whichever is more.
Maximum wages for the purpose of calculation of compensation is fixed at Rs 8000. Therefore, 50%/ 60%, as the case may be the salary at the time of accident or death subject to a maximum of 8000 shall be multiplied by the relevant factor given below to calculate compensation.
Factors as per schedule IV
Completed Factor for Compl. year Factor for comp
year of age for comp. of age
not more than 16 228.54 Not more than 41 181.37
17 227.49 42 178.49
18 226.38 43 175.54
19 225.22 44 172.52
20 224.00 45 169.44
21 222.71 46 166.29
22 221.37 47 163.07
23 219.95 48 159.80
24 218.47 49 156.47
25 216.91 50 153.09
26 215.28 51 149.67
27 213.57 52 146.20
28 211.79 53 142.68
29 209.92 54 139.13
30 207.98 55 135.56
31 205.98 56 131.95
32 203.85 57 128.33
33 201.66 58 124.70
34 199.40 59 121.05
35 197.06 60 117.41
36 194.64 61 113.77
37 192.14 62 110.14
38 189.56 63 106.52
39 186.90 64 102.93
40 184.17 65 or more 99.37
The Act also provides that Medical expenses in connection with accident is to be to be met by the employer without any limit.
The Funeral expenses subject to a maximum of Rs 5000 is also to be paid to the dependents.
Regards,
Madhu.T.K
From India, Kannur
Dear Member, Welcome to CiteHR. As already told that chart of relevant factor is provided by schedule iv of Employees Compensation Act, 1923. R.N.KHOLA
From India, Delhi
From India, Delhi
Hi members, Could anyone provide the calculations of Permanent Partial Disablement & Temporary Disablement(Total or Partial) of employees compensation act 1923?
From India, Gurgaon
From India, Gurgaon
Dear All, If the person died naturally on duty, without any accident. Shall company liable to pay compensation as per WCA-1923. Regards, -Chetan
From India, Mumbai
From India, Mumbai
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SALARY SHEET CALCULATION.xls