Can Someone Explain the Differences and Benefits of Workmen Compensation, Personal Accident, and Employer's Liability Insurance in India?

Understanding Insurance Policies: Workmen Compensation, Personal Accident, and Employer's Liability

Can anybody tell me the difference between Workmen Compensation Insurance Policy, Personal Accident Policy, and Employer's Liability Insurance Policy?

Salient Features and Benefits

What are the salient features of these three policies, what are the benefits under these policies, and whom do they benefit?

Applicability in the Indian Context

Which of these policies are applicable in the Indian context? What is the applicability criterion for these policies?

Beneficiaries: Employees and Employers

Which of the above three policies are beneficial to employees and employers?

Comparison: Workers' Compensation vs. Employer's Liability

Whether Workers' Compensation Insurance Policy and Employer's Liability Insurance Policy are the same? I need a detailed reply. Can anybody kindly help me?

Understanding Workmen Compensation and Personal Accident Policies

WC policy is applicable if there is no coverage under the ESIC scheme. All these policies are offered by insurance companies to safeguard the employer from liability to pay compensation in the event of any sudden accident leading to loss of earning capacity or death of the employee.

Generally, the WC policy is an unnamed policy providing only the number of employees to be covered. A Personal Accident Policy is taken out in individual names to cover accidents outside of work and generally does not cover workplace accidents.

You can approach any insurance company (National Insurance, United India Insurance, General Insurance, etc.) who will provide full details (premiums and benefits) of the policies available with them. After collecting data from various companies, you can compare and decide which is best suited for your establishment.

Regards,
M. Venkatragahvan