Understanding Employee Insurance: Is Third-Party Coverage Mandatory and What Does Labor Law Say?

Clarification on Employee Insurance

I just want clarification on employee insurance. My company has made a provision of Rs. 1 Lakh/emp/annum. Whoever doesn't come under ESI is covered in this policy. So, is it again mandatory to have third-party insurance? What does the labor law say about employee insurance, and where can I get proof of the document to say that it is mandatory to have third-party insurance for employees? Also, should management be included in the group insurance?

TIA - Expecting expert advice in this regard.

Dear Miss Divya,

Can you please elaborate on your statement that your company has made a provision of Rs 1 lakh per annum to ESI-excluded employees? What are the terms and conditions of payment? Please also furnish details of payments made to your employees till date. Additionally, could you explore the possibility of introducing a group hospitalization scheme with accident benefits, etc.?

Thank you.

Dear Miss Divya,

Please find attached the Government Order (GO) passed by the central government. Reference Page No. 14, Point No. 11 for the welfare of employees.

Thank you.