Dear All,
I have a small query. Is it necessary for the organization covered under ESIC to have a workmen's compensation policy? If so, please suggest what type of policy we should go with. Does anyone have a model copy available that they can share with the team?
Thank you.
From India, Visakhapatnam
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9I have a small query. Is it necessary for the organization covered under ESIC to have a workmen's compensation policy? If so, please suggest what type of policy we should go with. Does anyone have a model copy available that they can share with the team?
Thank you.
From India, Visakhapatnam
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If you have employees with Rs 15000+ salary then you have to obtain employee compensation policy for them.
From India, Mumbai
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From India, Mumbai
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Çompensation policy is not mandatory. If you have employees not covered under ESI and who are within the definition of the employee under the EC Act, it is better to cover them under an EC policy against your liabilities under EC Act.
From India, Thiruvananthapuram
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From India, Thiruvananthapuram
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Dear SVRamana,
If there is ESIC, there is no need for workmen's compensation. However, if you have employees with a gross salary of more than 21000/-, you can cover them under WC. But, along with WC, you have to cover them with mediclaim as well because WC only covers loss of pay, while ESIC covers both loss of pay and medical expenses.
From India, Pune
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If there is ESIC, there is no need for workmen's compensation. However, if you have employees with a gross salary of more than 21000/-, you can cover them under WC. But, along with WC, you have to cover them with mediclaim as well because WC only covers loss of pay, while ESIC covers both loss of pay and medical expenses.
From India, Pune
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ESI Act is applicable where ESIC can provide medical benefits. Where ESI Act is not applicable or where employees are out of coverage because of a higher salary, the employer is responsible for compensating an injured employee. The employer will not know when the accident will occur or its severity. Hence, they will not know the amount of compensation that will need to be paid. Furthermore, in the case of death or permanent total disability of an employee, the compensation amount is to be paid through the Court. Therefore, it is wise to take out a policy known as WC or EC Policy. This policy is a standard policy available with any insurance company, but it covers only injuries arising out of and in the course of employment.
If an employer wants to cover employees 24X7, then a general policy is taken. This policy covers all employees all the time for any injury anywhere.
Vibhakar Ramtirthkar
Email: snehvibha@yahoo.com
Phone: 9371001906
From India, Pune
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If an employer wants to cover employees 24X7, then a general policy is taken. This policy covers all employees all the time for any injury anywhere.
Vibhakar Ramtirthkar
Email: snehvibha@yahoo.com
Phone: 9371001906
From India, Pune
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Thank you for your prompt response, Mr. Vibhakar. We are planning to implement a policy to protect our employees both within the workplace and when they are on duty at other sites of our company. Could you kindly recommend some of the best insurance providers to us along with their contact details?
From India, Visakhapatnam
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From India, Visakhapatnam
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Workmen Compensation Notification.pd f
Workmen Compensation Return.doc