The Building and Other Construction Workers (Regulation of Employment and Conditions of Service) Act, 1996 is an Act to look after the welfares of the construction worker and condtions of the services. The Govt collects Cess @ 1% of construction value from the contractor and spent for the welfare of construction workers.
The WC Policy is an Insurance policy taken by the employer to cover up the consequential compensation decided by the authority under Employees Compensation Act for the employee arises out of any accident while at work.