Hi all, Please clarify that, Does workmen’s compensation-1923 cover only Fatal & Non-Fatal accidents. Does it covers mediclaim or not? If covers how can we make changes in existing WC Policy.
From India, Warangal
12From India, Warangal
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Presently, there is no Workmen Compensation Act 1923; it is renamed as the Employee Compensation (EC) Act 1923, and a lot of changes have been made. The scope of Mediclaim and EC are different. EC is applicable only for employment-related injuries and provides compensation in such cases, whether they are fatal or non-fatal (with at least three days' incapacity to work), while a Mediclaim policy can provide relief in cases well beyond EC, depending on its coverage. A Mediclaim is meant to compensate for the expenses incurred, whereas EC provides compensation for the future loss of earning capacity.
From India, Mumbai
From India, Mumbai
Dear Colleague,
Probably, you are inquiring about the Employees' Compensation Policy, which supports the employer by assuming the risk under the policy to cover compensation and provide other support to the employees as mandated by the provisions of the Employees' Compensation Act 1923.
The policy is typically obtained from an insurance company by an employer to mitigate the risk of compensation under the EC Act 1923. The scope varies among different insurance companies. Therefore, it is important to specify the coverage needed for your employees by engaging in effective negotiations to include additional risk cover, medical expenses, hospitalization coverage, and other necessary provisions by paying an extra premium.
The policy acquired from the market typically includes standard features such as compensation for fatality or disability. However, you have the option to customize the terms based on your requirements by paying an additional risk-based premium, a service offered by many policies in accordance with the internal procedures of insurance companies. It is advisable to engage in discussions with your insurance company regarding this matter.
Please feel free to discuss this further with your insurance provider.
From India, Chennai
Probably, you are inquiring about the Employees' Compensation Policy, which supports the employer by assuming the risk under the policy to cover compensation and provide other support to the employees as mandated by the provisions of the Employees' Compensation Act 1923.
The policy is typically obtained from an insurance company by an employer to mitigate the risk of compensation under the EC Act 1923. The scope varies among different insurance companies. Therefore, it is important to specify the coverage needed for your employees by engaging in effective negotiations to include additional risk cover, medical expenses, hospitalization coverage, and other necessary provisions by paying an extra premium.
The policy acquired from the market typically includes standard features such as compensation for fatality or disability. However, you have the option to customize the terms based on your requirements by paying an additional risk-based premium, a service offered by many policies in accordance with the internal procedures of insurance companies. It is advisable to engage in discussions with your insurance company regarding this matter.
Please feel free to discuss this further with your insurance provider.
From India, Chennai
Dear Rupeshkumar,
If I remember correctly, I think insurance companies have started extending the benefit of Mediclaim coverage to WC/EC Policies since 2013 with some additional premium. The minimum mediclaim coverage is INR 50,000. Many organizations are using this facility along with the EC policies.
Regards,
Suresh
From India, Thane
If I remember correctly, I think insurance companies have started extending the benefit of Mediclaim coverage to WC/EC Policies since 2013 with some additional premium. The minimum mediclaim coverage is INR 50,000. Many organizations are using this facility along with the EC policies.
Regards,
Suresh
From India, Thane
My organization has an EC policy with Medical Benefits up to 1 lakh. The only issue we face is that there is no cashless facility, so medical reimbursement is a claim. The claim gets settled in two parts: (a) medical reimbursement and (b) Compensation, both are generally credited directly to the worker. Since there is no cashless feature, the medical expenses are borne by the affected worker and reimbursed as above, or the company bears it, in which case the amount received as medical reimbursement is then refunded to the company by the worker. This arrangement has been working smoothly, and we haven't had any issues in this regard to date.
From India, Kochi
From India, Kochi
There was an amendments in the Employee Compensation Act in the year 2009 and subsection 2A was inserted under Section 4 which reads as under:
‘‘(2A) The employee shall be reimbursed the actual medical
expenditure incurred by him for treatment of injuries caused during course
of employment.’’;
After this amendment, it is obligatory on an employer to recover the medical expenses also without any limit.
Under EC Policy, the Insurance Company also give the coverage against the Medical Expenses but cost of the premium goes high.
Dr Kamlesh Agrawal
Mumbai
From India, Delhi
‘‘(2A) The employee shall be reimbursed the actual medical
expenditure incurred by him for treatment of injuries caused during course
of employment.’’;
After this amendment, it is obligatory on an employer to recover the medical expenses also without any limit.
Under EC Policy, the Insurance Company also give the coverage against the Medical Expenses but cost of the premium goes high.
Dr Kamlesh Agrawal
Mumbai
From India, Delhi
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Workmens Compensation Act 1923.doc
Employee's Compensation Act-2009.pdf