Compensation for Employee Death Outside Work: What Are Our Obligations?

We run a software company (company size - 9 employees).

Compensation for Employee Death Outside Company Premises

My question here is if an employee dies in an accident or due to any disease outside the company premises, will the company need to pay compensation? If so, what is the amount of compensation that needs to be paid?

Thank you for your support.

Please provide more information. If the employee dies due to illness, then they will receive their final settlement money and nothing else. On humanitarian grounds, you can collect some amount from the employees, add some more money from the company, and pay it to the next of kin of the deceased.

If the employee meets with an accident while on the way to or returning from duty, you can choose to pay the compensation or instruct them to claim it through MACT from the vehicle owner. The compensation will be paid by the insurance company in which the vehicle is insured.

I hope you have some composite insurance policies for your employees. If so, you may obtain benefits for the deceased employee's family from the policy.