Asso.prof.(commerce & Management) Pg
Labour Consultant
+1 Other

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Myself working in a real estate firm and my management wants any notification regarding Medical Insurance is compulsory for Private sector employees or not if yes then please provide any details under Law.
Rakesh Singh
Asst. Manager HR
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Hi Rakesh,
Where are these people working and how many of them are involved. Are you a contractor or Principal Employers? Have you covered them under ESI, if applicable?
These people is working with Principal employer and outside the ESI limit.
As I could gather, the incidences of health issues, accidents are common in real estate business/construction/sites, it's better for you to cover all these guys both for health & accident and life insurance in order to avert heavy payouts in cases of untoward incidents. Even by law you have to answer stipulations under Employees Compensation Act and address health issues and other relevant Acts/Rules.
Dear Rakesh,
If the workmen are working in Non-implemented areas of ESI, cover them under WC / Employees' Compensation Policy. Under this policy now there is also a provision for hospitalisation claim due to accident upto Rs. 1 lac with some additional premium.
Additional Term Life Insurance cover is the best option for workmen. This policy provides cover for any kind of death due to accidental or natural and anywhere in India with nominal premium for Group Coverage.
Introduce contributory Group Mediclaim Policy for workmen with reasonable premium deductible from wages and share employer's contribution equivalent to 4.75% for this policy.
If you have large no. of workmen, you can negotiate with insurance companies and reduce the annual premium drastically at least for 1st year and thereafter depending upon claim ratio.
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