Dear Seniors, If a region is covered under ESI, why WC/EC shouldn’t be applicable is there is any specific rule for this? Kindly guide me. Thanks & Regards, B.Saravanan
From India, Chennai
4From India, Chennai
The esic act states that the employees covered under ESIC are not covered under employee compensation act. Th is because ESIC already has provision for compensation. The law will not allow you to claim compensation twice for the same accident
From India, Mumbai
From India, Mumbai
However for those with gross salary above 15000 per month there is no ESIC cover so naturally thode employees are covered by employees compensation act
From India, Mumbai
From India, Mumbai
Dear Sir, Can you please exactly tell me where it is mentioned in ESIC or WC laws
From India, Chennai
From India, Chennai
Dear professionals, I want to learn about statutory reports handling I need each & every information about ESI act could some one help me ?
From India
From India
Dear Saswata,
In IT organisation where Gross salary is above Rs. 15000/- ESIC is not applicable and even WC is also not opted, in that case company has opted GPA and GMC through Insurance company. Is that valid ?
Regards,
Pranab Chakraborty
From India, Delhi
In IT organisation where Gross salary is above Rs. 15000/- ESIC is not applicable and even WC is also not opted, in that case company has opted GPA and GMC through Insurance company. Is that valid ?
Regards,
Pranab Chakraborty
From India, Delhi
There is now law that provides for compulsory insurance cover for WCA (now called ECA). However given that compensation can be as high as ₹16 lakhs, and insurance cover costs only about ₹1000 per year per person, it makes sense to take that cover.
If not,,the company runs the risk of having to pay it on its own and therefore exposing its selfs to a huge impact in profit and cash flow.
Group accident policy is not the same as WC policy. The amount of group accident policy comes directly to the employee. It belongs and accrue to the employee even if the money is paid through the comoany. The employee or his kin can sue the insurance company for the money if they don't get it.
WC Compensation on the other hand is indepent. The comoany is liable to pay it to,the employee or their kin. This will always be in addition to any insurance the employee has directly or through the company. the WC policy is amount given by the insurance company to the employer to cover any compensation order the court gives.
IT companies are complacent also thinking they are in non hazardous jobs. But the employee can get compensation for accident in course of work, including say a road accident on way to client office, or to the bank, anywhere that v an be connected to his work.
So they are running huge risks.
From India, Mumbai
If not,,the company runs the risk of having to pay it on its own and therefore exposing its selfs to a huge impact in profit and cash flow.
Group accident policy is not the same as WC policy. The amount of group accident policy comes directly to the employee. It belongs and accrue to the employee even if the money is paid through the comoany. The employee or his kin can sue the insurance company for the money if they don't get it.
WC Compensation on the other hand is indepent. The comoany is liable to pay it to,the employee or their kin. This will always be in addition to any insurance the employee has directly or through the company. the WC policy is amount given by the insurance company to the employer to cover any compensation order the court gives.
IT companies are complacent also thinking they are in non hazardous jobs. But the employee can get compensation for accident in course of work, including say a road accident on way to client office, or to the bank, anywhere that v an be connected to his work.
So they are running huge risks.
From India, Mumbai
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