Workmen compensation
Workers are an organisation's most valuable asset, and hence, the employer is responsible for taking care of them. While workplace risks cannot be eliminated completely, the employer must ensure workers' security. To do so, employers are mandatorily required to have a workmen compensation policy.
While injury compensation is the most talked about benefit of workers compensation insurance, there is much more to it. This blog enlists all the benefits that a worker can get through workers compensation policy.
So, let's find out how workers's compensation helps injured workers.
If an employee gets injured due to a workplace accident, the labour insurance policy provides them with medical assistance. The plan pays the cost for the injured worker's treatment and recovery. It includes all major and minor expenses, such as doctor visits, surgery, medicine bills, and any other charges that are associated with his treatment or recovery.
At times, a major workplace injury may prevent the workers from resuming their duties due to their limited capacities. In such a scenario, they lose out on their regular income, which can make their financial situation grim.
However, workmen compensation insurance provides them with lost wages during their recovery period. This assistance helps them to take care of their families expenses even when they are unable to work.
Some workplace incidents can be severe, leading to permanent or temporary disability of the worker. The worker may not be able to continue working in the same capacity as before, due to the disability.
This can severely impact the worker's earning capacity and financial health. To ease the situation for the injured employees, workmen's compensation policy provides them with a lump sum amount as assistance.
In the case of workplace injury, employees can directly claim compensation under the workmen compensation plan. They need not take the legal route and file a case against the employer. This arrangement saves the employees from getting into the hassle of legal battle and spending huge amounts of money to get their due rights.
Under the workmen's compensation plan, workers are also entitled to receive compensation for rehabilitation if their injury demands. It is very useful for those workers who require support to return to their working capacity in full swing. They may receive compensation for therapy, medical care, training, etc., enabling them to regain strength and work to their full capacity.
Let us have a look at a case study to learn how workmen compensation insurance positively impacts the lives of workers after they are injured at the workplace.
A case between the New India Assurance Company Limited vs Sh. Waseem and Anr were heard in the New Delhi High Court on January 22, 2024. Waseem, a truck driver, suffered severe injury to his leg, leaving him with disability. The Commissioner of Employees' Compensation awarded him a compensation of â¹8,28,096, with which he was able to manage his family's expenses even though he was not actively employed.
However, New India Assurance Company contested the compensation based on the assessment of the disability. While the medical board had evaluated the disability to be at 22%, the Delhi High Court upheld a 100% disability, based on the nature of Waseem's profession and functional limitations that the injury caused.
Since Waseem would not be able to resume his profession due to his injury, the court determined the disability to be 100%. This judgement sets out a positive message in favour of employees and shows how employee compensation insurance can assist the injured workers financially when they need it the most.
It is true that no compensation is sufficient to reduce the pain of an injured worker. However, it can surely help them manage their finances in a difficult situation. Thus, opting for a comprehensive workmen's compensation plan offers a helping hand to your employees by providing them with adequate financial assistance. It helps them to sail through tough times and manage their expenses efficiently. Moreover, investing in a workmen's compensation policy also helps you to fulfill your legal obligation.
If you want an efficient workers compensation policy, TATA AIG offers some of the most inclusive and affordable plans. Their plans cover several expenses, such as medical bills, surgery costs, rehabilitation charges, etc. They also include death benefits for the employee and covers the employers against legal expenses.
Most of all, you can customise the plan to suit your business needs and provide the employees with a secure work environment. Buying TATA AIG workmen compensation insurance is a simple process that you can complete using their user-friendly website.
