How Do I Calculate Compensation for Permanent Partial Disablement Due to Injury?

Employee's age: 37
Factor: 192.14
Basic salary: $24,000
Nature of injury: Permanent partial disablement (Right middle finger one and a half inches amputated and thumb one inch amputated), loss of earning capacity 27%

Can anyone tell me what the correct formula or basis of calculation is?

Compensation Calculation for Permanent Disablement

The age factor and wages for calculating compensation payable apply mainly in death cases. In cases of permanent total disablement, the compensation is 60% of the wages (with maximum wages capped at Rs. 15,000, hence 60% of 15,000 shall be taken even if the wages are Rs. 24,000) multiplied by the age factor, say 192.14. For partial disablement, the valuation of loss of earning capacity should be made by the Competent Authority under the Employees' Compensation Act.

Moreover, no compensation is payable directly by the employer or the insurance company without obtaining an order from the Workmen's Compensation Commissioner. Therefore, you are advised to approach the area Workmen's Compensation Commissioner for the order. They will assess the loss of earning capacity and decide on the amount of compensation payable by the insurers/employer.

Apart from the mathematical percentages prescribed in the schedule on the loss of earning capacity, it is important to consider how much the employee's performance is adversely affected due to the physical loss suffered. For instance, a driver's loss of earning capacity is 100% if one leg is amputated below the ankle or if 3/4 fingers are amputated.