Dear All, Can Any one tell which all Policy & Insurance is Required for Worker’s as per Factories Act. Please share the details . Please mail me on kishor@vijayss.com
From India, Mumbai
From India, Mumbai
Workers whose salary does not exceed Rs 21000 will be covered by ESI scheme. In respect of such workers there is no need of any other insurance other than the one included in the PF Schemes, ie, Employees Deposit Linked Insurance Scheme. In respect of workers whose salary exceeds Rs 21000, you will have to take such policy which will cover the compensation payable in the event of accidents during the course of employment resulting in disablement and death as per the Employees Compensation Act.
From India, Kannur
4193From India, Kannur
In factory act there is no any provision for Insurance for this there are sperate acts as mentioned by Madhu Sir. you can go for the GAP ( Group Accident policy ), GMP ( Group medical policy) as well go for GTI ( Group term Insurance ) and for other life insurance you can approach to your team for individual. there are some different in various type of policy -
Life insurance - its total insurance for any employee means benefits will be for any employee at maturity ( if employee alive) and insurance benefits to his nominee after the death .
GAP - benefits will be payable only in death case due to accident.
GMC- its a medical faciality to employee where as due to any sickness or medical emergency all expenses will be born buy the medical company as per sum insured by the insurance company and other term and condition.
GTI - in this benefits will be payable after the death , only suicide will be covered after the one year. in rest case the insured amount will be payable to the nominee.
From India, Rudarpur
Life insurance - its total insurance for any employee means benefits will be for any employee at maturity ( if employee alive) and insurance benefits to his nominee after the death .
GAP - benefits will be payable only in death case due to accident.
GMC- its a medical faciality to employee where as due to any sickness or medical emergency all expenses will be born buy the medical company as per sum insured by the insurance company and other term and condition.
GTI - in this benefits will be payable after the death , only suicide will be covered after the one year. in rest case the insured amount will be payable to the nominee.
From India, Rudarpur
You can go for ESIC, if ESIC not applicable then WC/EC(WORKMAN COMPENSATION/EMPLOYEE COMPENSAION).
From India, Mumbai
From India, Mumbai
GROUP LIFE INSURANCE
I. Description
The Company provides a Group Life Insurance Program, in addition to Labor Insurance and National Health Insurance for employees which is sponsored by the private Life Insurance Company. Benefits include death payment, disability payment, injury subsidy, and hospitalization payment in addition to the Labor Insurance payment and National Health Insurance.
II. Application
This insurance is for a fixed term of one-year, renewable contract. All participants must complete the appropriate application form by the 15th of each month, and return it signed to the HR Department. New participants may join only at that time including new employees; Withdrawal or change of coverage during the year is not allowed, except upon termination of employment.
III. Payment
The premium of the insurance is paid by the Company on the monthly basis to the Life Insurance Company. If the employees want to include their spouse or children in the insurance coverage, they have to pay the half premium of the additional benefit.
IV. Information
Interested employees who desire detailed information on coverage, premiums, and other conditions should consult the HR Department.
Best regards,
John Chiang
From China, Shanghai
I. Description
The Company provides a Group Life Insurance Program, in addition to Labor Insurance and National Health Insurance for employees which is sponsored by the private Life Insurance Company. Benefits include death payment, disability payment, injury subsidy, and hospitalization payment in addition to the Labor Insurance payment and National Health Insurance.
II. Application
This insurance is for a fixed term of one-year, renewable contract. All participants must complete the appropriate application form by the 15th of each month, and return it signed to the HR Department. New participants may join only at that time including new employees; Withdrawal or change of coverage during the year is not allowed, except upon termination of employment.
III. Payment
The premium of the insurance is paid by the Company on the monthly basis to the Life Insurance Company. If the employees want to include their spouse or children in the insurance coverage, they have to pay the half premium of the additional benefit.
IV. Information
Interested employees who desire detailed information on coverage, premiums, and other conditions should consult the HR Department.
Best regards,
John Chiang
From China, Shanghai
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