Dear All,
thanks for the posting.
By the way, it is not clear from the compilation you done w.r.t. Workmen (Employee's) Compensation Act.
There is a notification from the Govt. that Minimum Wages as far Workmen (Employees) Compensation Act is concerned, to be reckoned as Rs.8000/-. Please see the amendment which I received from New India Assurance Company.
By this amendment, an employee aged around 24 years dies, and the employer is required to pay compensation, the working will go like this.
50% of wages X Relevant Factor
= Rs.4000 (in this case after the amendment) X 218.47 = Rs.8,73,880
Wheres in case of hospitalization due to injury (not causing dealth), medical expenses alone are made unlimited.
This might have to be captured in the amendment.
thanks
Balaji