From "Sumana1" : Dear Friends n Gurus,Please let me know whether there is any provision in the workmen compensation act to take a workmen compensation policy from Insurance Company to mitigate the risk of accidents.If not then whether any SB A/c to be opened? or can manage with the current account?In case of the above said Act, if an employee meets with the accident inside the company premises and has to be compensated, then the medical expenditure borne by the victim to be considered along with the workmen compensation calculation or not?Please brief about it at the earliest.Sumana.
24th August 2009 From India, Bangalore

dear sumana
let me clear you first that where ESI act will applicable workmen compensation will not be applicable,it means whosever is entitle benifit from ESI ,will not get any benifit from WMC act.
it is not necessary to take insurance against this act through any insurance companies,however you can take if you wish.
there is no need to have S B account for this purpose.
wormen compensation calculation doesnot have any relation with medical expenses.
regards
js malik

25th August 2009 From India, Delhi
Dear Malikji,Thank You for the info.We are not covered under ESI hence WC Act applies.Malikji, please tell me the rate of interest applicable for the delay in compensating the workmen for the permanent disablement under WC Act.Regards,Sumana
25th August 2009 From India, Bangalore
Is it mandatory for a company to take ESI or employee insurance , Personal accident insurance.
Our company is very small and we are into agro products, like vegetable seeds development and export.
Thanks
Alok
11th May 2010 From India, Kochi
Dear Alok,
If your company is covered under the ESI Act, 1948 then you do not require to have any insurance coverage. If the employee is not covered under this Act then it is not compulsory to have any insurance/ personal accident insurance coverage for them but in that case if any liability accrues then the employer will have to borne that liability from his own account. We use to have W C policy/ insurance to avoid any sudden heavy burden on the pocket of the employer.
Regards,
R.N.Khola
Skylark Associates, Gurgaon (Haryana)
Labour Law Consultants (m) +91 9810405361
www.skylarkassociates.com/

5th September 2010 From India, Delhi
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