why compensation is needed to the employees and what is the benefits?
From India, Dhanbad
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From India, Dhanbad
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Compensation for Employee Accidents: Obligations and Coverage
This is related to compensation in the case of an employee meeting with an accident during the course of employment. If the accident results in partial or total disability or death, then based on the employee's earning capacity, age, the affected body part, or inability to earn a livelihood, the employer is obligated to pay compensation to the employee under the Workmen's Compensation Act of 1923. The Deputy Commissioner of Labour is the competent authority under this act.
If the employee's salary is Rs. 15,000 or less and they are covered under the ESI Act, then the ESI will be responsible for and take care of the compensation, and the employer will not need to pay anything. If not, the employer is responsible. Sometimes, the compensation amount can be substantial, especially in cases of employee death or when multiple employees are affected. In such situations, some companies may even face closure, as seen in the Union Carbide case. To mitigate such major issues, employers typically cover all employees under Workmen's Compensation policies provided by insurers like New India Assurance.
If further assistance is needed, please feel free to reach out.
Regards,
Kamesh
From India, Hyderabad
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191This is related to compensation in the case of an employee meeting with an accident during the course of employment. If the accident results in partial or total disability or death, then based on the employee's earning capacity, age, the affected body part, or inability to earn a livelihood, the employer is obligated to pay compensation to the employee under the Workmen's Compensation Act of 1923. The Deputy Commissioner of Labour is the competent authority under this act.
If the employee's salary is Rs. 15,000 or less and they are covered under the ESI Act, then the ESI will be responsible for and take care of the compensation, and the employer will not need to pay anything. If not, the employer is responsible. Sometimes, the compensation amount can be substantial, especially in cases of employee death or when multiple employees are affected. In such situations, some companies may even face closure, as seen in the Union Carbide case. To mitigate such major issues, employers typically cover all employees under Workmen's Compensation policies provided by insurers like New India Assurance.
If further assistance is needed, please feel free to reach out.
Regards,
Kamesh
From India, Hyderabad
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What do you do and where (in which industry) and why are you seeking answers in a very general way. More specific the question more precise will be the answer.
From United Kingdom
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From United Kingdom
Acknowledge(0)Amend(0)CiteHR is an AI-augmented HR knowledge and collaboration platform, enabling HR professionals to solve real-world challenges, validate decisions, and stay ahead through collective intelligence and machine-enhanced guidance. Join Our Platform.
Employee's Compensation Act-2009.pdf
PMS COmpensation and Benefits.doc