Hi Gaurav,
If the injury is at his work spot ie., injury occured during the course of employment then only the management is liable to pay compensation, this is applicable wrt the employees covered under ESI scheme also.
If the management is so employee oriented then you can cover all your employees under the Group personal accident policy where in all the employees are covered 24 x 7. Any insurance companies like general / oriental / new india are issuing these policies.
On humanitarian ground the management wants to support then they can extend the support other wise there is no liability.
I believe you are clear.