Please send me a format of indemnity bond for final settlement of the deceased worker which is to be claimed by the legal heir (deceased worker from jhalani tools, Aurangabad)
From India, Pune
PROFESSIONALS AND BUSINESSES PARTICIPATING IN DISCUSSION
Dinesh Divekar
Business Mentor, Consultant And Trainer

Dear Rajeev Bhonsle,

The definition of "indemnity" is protection against future loss and legal exemption from liability for damages and also a sum of money paid in compensation for loss or injury. You have raised the query in relation to which definition of indemnity? Please confirm.

Now in your case, who will provide indemnity to whom? If the employee has died, then the terminal benefits are paid to the legal heir. While making a payment if the proper break up of the FFS amount is provided, then where is the question of indemnity? At best, you may obtain the "No Due Certificate" from the legal heir.

Thanks,

Dinesh Divekar

From India, Bangalore

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