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Workmen’s Compensation

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The Indian Workmen's Compensation Act 1923 provides for the payment of compensation by the employer to his employees (for their dependents in the event of fatal accidents) if personal injury is caused to them by accidents arising out of and in the course of their employment( as per court laws this includes commuting between residence and workplace and also any premises where the employee is working at the time of the accident under the direction of the employer)

The maximum compensation payable is upon the following scale (as per W. C. Amendment Act 2000)

  • Fatal Injury - Rs.4,57,080
  • Permanent Total Disablement - Rs.5,48,496
  • Permanent Partial Disablement - According to incapacity
  • Temporary Disablement - Half monthly compensation

Suitability

The policy will provide Indemnity against legal liability under the Fatal Accidents Act, 1855 and Common Law for all employees and also under the Workmen Compensation Act for employees that fall within the definition of “Workmen”

Salient Features

  • The policy covers statutory liability of an employer for the death of or bodily injuries or occupational diseases sustained by the workmen arising out of and in course of employment.
  • The Act provides a very wide meaning for the term 'arising out of and in course of employment' (for example a workman starting from his house to the work place is treated as in course of employment). Death of or injuries arising out of an employee's own negligence are also treated as 'arising out of employment'.

Benefits

  • The amount of compensation payable is calculated as per the WC Act., and is a factor of the age of the individual, the nature of disability and the last drawn salary.

Premium

  • Premium rates are based on the nature of duties performed and on the basis of annual estimated wages disbursed to the workmen,

Exclusion

  • This insurance does not cover any interest and/or penalty which may be imposed on all insured or an insured on account of failure to comply with the requirements of the said Workmen's Compensation Act, 1923 as amended.

For Further Information Contact:

Anil Varma

Director & President

Telephone

+91-22-6655 8858

Email

anil.varma@howdenindia.com