Now, you can give him light job, transfer him to other areas where he can work without any strain. You may have some jobs which are lighter and are meant for ladies (sorry i am aware that ladies can do any kind of work because to that extent they are highly empowered in paper) and you can transfer this person to that job.
Heart attack happened at home need not necessarily an accident not arising out of employment. If you have given stress to the employee and due to the work pressure and stress if he develops heart failure while at his house, that can also be taken as an accident within the meaning of Workmen's Compensation Act and make you liable to bear the expenses and pay compensation. At the same time,if he develops heart attack at work place but if you establish that this has nothing to do with any work pressure, you are under no obligation to give him compensation.
In the instant case the only remedy available is to find an alternative job for him and accommodate him in that place.
In such matter you can go with Voluntary Retirement Scheme (VRS) option... As stated by you he is 52 years old and completed more that 10 years of service therefore he is fit for VRS.
Other options for Termination and force Resignation are also open for you, but ethically and morally it's not sound good therefore I suggest please go with VRS.
His continuance in the job with such an acute heart problem may endanger himself and others at any time. If you are not in a position to give him any other alternative job, you may refer him to a Medical Board and upon its negative findings,if any you can simply terminate his services on the ground of medical invalidation. But, in such a critical juncture effective HR practice would demand compassion rather than an effective decision within the legal parameters. Therefore consider any one of the options suggested above by our learned members. After all, charity begins at home!
Getting heart attack is not his making whether the cause is at workplace or home.
Giving him light work considering his 10 years' service would give him message that he is still wanted and useful particularly if he is the only bread - earner.
If not possible, alternatively as suggested , give VRS as well as job to any of his kith and kin by way of good gesture.
Vinayak Nagar kar
Now comes the question of retaining him in employment. Obviously he is unfit to do the work he was earlier doing. From the description of his nature of work as physical, he has become of less worth to the organisation and it appears it is decided to terminate his services. But he may be in trying circumstances and would like to keep the employment. As suggested by learned brothers, can you not redeploy him elsewhere, say in office as Peon or servitor or some such less physically taxing assignment. If you are able to protect his pay it will be fine but otherwise pay him as per your policy.
If nothing works out you may constitute a medical board and refer all his papers submitted to you be considered, he can also be called to appear before the board and then make an assessment of his medical suitability for being retained. In case you decide to terminate him, pay him all benefits including gratuity, leave encashment (if any) and any other welfare benefit treating him to have retired from service prematurely. You can consider giving employment to a family member, if any body is eligible. Pl take a sympathetic view and render all assistance.
Have the staff's medical report, coupled with the doctor's prognosis - his advice what nature of work is most suited for the 'associate' - and you MUST find an alternate (suitable) position for him. Given that there is no real social security at work in your part of the world, it behooves on the employer to engage him. After all he has a house to run.
Remember your human capital is your biggest asset.
Hope this helps.
Arif ur Rehman
All learned members gave you good options, good inputs. Just to add to them, I would say that your policy should be very firm but fair. Once you reach to the conclusion that the employment of such person is going to make you suffer either directly or indirectly then you should get rid of him. But see that his loss of employment should be compensated adequately. You need to convince your decision not only to him but also to his family. You should convince how the employment will be harmful to his life with the help of doctor's report. You can also think of employment to one of his family members as suggested by learned members Nagarkar & KK!HR.