Fatal Accident Act 1855 - Software Compnies

We run a software company- (company size- 9 Employees).
My question here is if an employee dies in accident or with any disease outside the company premises. Will the company needs to pay the compensation. If so what is the compensation amount needs to pay. Thank you for your support

Dear Srivardhan
Please give some more information.
If the employee dies due to illness then he will get his final settlement money and nothing else. On humanitarian grounds you can collect some amount from the employees and add some more money from the company and pay to the next of kin of the deceased.
If he met with any accident while on the way to or while returning from duty then either you can pay the compensation or you can instruct them to claim the compensation through MACT from the Vehicle owner, which will be paid by the insurance company in which the vehicle got insured.
Hope you are having some composite insurance policies for your employees. If so, you can get some benefit for the family of the deceased from the policy.