It is clear that ESI or Employee compensation is taken as per ESI Act and Workmen Compensation Act but can anyone advise if a company takes Group Personal Accident Policy whether this will suffice Employee Compensation policy as per the WC Act??..
The Employees Compensation Act renders only the employer liable to pay the compensation under teh Act. However if the employer takes an accident policy of the kind you mentioned, the employer keeps himself indemnified to the extent of compensation by the Insurance Company.
B.Saikumar
HR & Labour Law Advsisor
Mumbai
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