As a startup, every penny investment matters a lot, at the same time taking the relevant policy to protect the interest of the employees is also very crucial. There are hundreds of policies out there in the market, however, Workmen compensation policy has been mandated and is indented to protect the rights of the employees and safeguard the interest of the employees for the employer engaging workmen in its organization. In other words, Workmen Compensation policy is a tool designed in a way to ensure that the employer is protected against their liability towards the workers in case of an injury occurred at the workplace or during the course of employment. The occurrence of injuries during the course of employment can be minimized by adequate protective equipment, however, there are certain situations wherein the is a common part of the business, hence it is imperative to buy a Workmen Compensation policy as it safeguards a company from the costly lawsuits and high compensation demands. Workmen Compensation Policy Applicability: It is governed and regulated under workmen compensation act 1923. It applies to all the companies engaged in the construction site work, mines, factories and hazardous occupations. An employer is required to provide its employees including the family compensation, in situations wherein the job-related injury has been occurred to the employee and has resulted in the permanent or partially permanent injury or death. The Workmen Compensation policy is taken by the employer (principle or contractor) who engages any workmen as defined under the Workmen Compensation Act and covers the workmen’s However even Non- workmen can be covered under the separate table. Exclusions: Following are the exclusions: Injuries in which fatality or partial disablement has not resulted for a period exceeding 3 days. Cases wherein the non – fatal injury has resulted due to the direct willful omission to take the safety device, or under alcohol/drug influence, in cases of willful disobedience of an order for securing safety. It is also not allowed in cases where disablement is less than 28 days, for first 3 days. Wherein the liability is insured via an agreement Liabilities towards the employees of the contractor Compensation mentioned in Part C of the Workmen Compensation Act 1923. Nuclear group of Perils War group Amount: The amount to be paid has been decided and revised time to time as per the Workmen compensation act and also depends on the age of workmen and the nature of the injury. Legal liability under the Workmen Compensation Policy: It is monitored by the Ministry of labor. The compensation is paid to the employees who have suffered any bodily injury or have died due to accidents, occupational ailments during the employment tenure or arising out of such an occupation. Workmen Compensation insurance coverage: It provides indemnity against the legal liability of the Company under the Fatal Accident Act 1855. (Table B) It provides indemnity against the legal liability of the Company for the accidents arising due to accidents of under the Workmen compensation act 1923. (Table A) Insurance Coverage: Death of the employee The accident that has caused Permanent total disablement The accident that has caused Permanent partial disablement The accident that has caused Temporary disablement Medical care from the injury or illness Replacement income costs if any Retraining Cost Legal costs Bodily injury Benefits to survivors of workers who are killed during the employment or on the job A part of the above it also covers problems and illnesses due to an extended period of time because of the same injurious activity. It can be extended if required to include the medical expenses of necessary treatment. Compensation: According to the Employees Compensation amendment bill 2016, amount varying between Rs 50000/- to Rs 100000, is to be offered as the compensation the employees and their dependents, in cases of industrial It is mandatory to display the same in the factory premises in English, Hindi, and regional language. The expert team of Enterslice will help you and provide end to end solution with regard to Adoption of Workmen Compensation policy and the compliance part required in this regard, also with minute study and adoption of time to time changes induces by the government in this regards. Our expert team shall help you in choosing the best policy at least premium. In case you wish to know more or learn more and contact Click here.