Dear All,
Thank you for the posting. By the way, it is not clear from the compilation you have done regarding the Workmen (Employees') Compensation Act. There is a notification from the government that the minimum wages, as far as the Workmen (Employees') Compensation Act is concerned, are to be reckoned as Rs. 8000. Please refer to the amendment that I received from the New India Assurance Company.
According to this amendment, if an employee aged around 24 years dies, and the employer is required to pay compensation, the calculation will be as follows: 50% of wages X Relevant Factor = Rs. 4000 (in this case after the amendment) X 218.47 = Rs. 8,73,880.
In the case of hospitalization due to injury (not causing death), medical expenses alone are to be made unlimited. This detail might need to be included in the amendment.
Thank you,
Balaji