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varagantimadhu@yahoo.co.in
42

Dear Senior Members,
Can anybody tell me the difference between Workmen Compensation Insurance Policy, Personal Accident Policy and Employer's Liability Insurance Policy? What are the salient features of these three policies, what are the benefits under these policies and whom do they benefit? Which of these policies are applicable in Indian context? What is the applicability criterion for these policies? Which of the above three policies are beneficial to employee and employer? Whether WC Insurance Policy and Employer's Liability Insurance Policy are same? I need a detailed reply. Can anybody kindly help me?

From India, Vijayawada
venkatraghavanm
34

WC policy is applicable if there is no coverage under ESIC scheme. All these policies are offered by insurance companies only to safe guard the employer from liability to pay compensation amount in the event any sudden accident leading to loss of earning capacity on the physique of the employee or death. Generally WC policy is unnamed policy providing only the number of employees to covered by the policy. Personal accident policy is taken on individual names only to cover accident outside and generally do not cover workspot accidents. You can approach any insurance company (National insurance, United India insurance, General Insurance, etc) who will provide full details (premia and benefits) of the policies available with them. After collecting data from various companies you can compare and decide which ever is best suited for your establishment.
Regards
M.Venkatragahvan

From India, Selam
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