Secure Compensation for Workplace Risks
Employees Compensation Act, 1923 is one of the important social security legislation. The act aims to provide financial protection to employees and their dependents through compensation in case of any accidental injury occurs during employment which results in either death or disablement of the worker. In this article, we view the various aspects of the Employees Compensation Act in detail.
Determination of Compensation
According to the provisions of this Act, the amount of compensation depends upon the nature of the injury, average monthly wages and age of the workers and the same are explained below:
1) In case of injury resulting in Death
Amount equal to 50% of the monthly salaries of the deceased employee multiplied by the appropriate factor or with the amount of 80,000 or more.
2) In case of injury resulting in permanent total disablement
Amount equal to 60% of the monthly wages of the injured workmen multiplied by the relevant factor or an amount of 90,000 or more.
3) In case of an injury occurring in permanent partial disablement
In case of an injury mentioned in part-II of schedule I, such percentage of the compensation which will be payable in the case of permanent total disablement as is defined as being the percentage of the lack of earning capacity caused by that injury.
In case of an injury not mentioned in schedule I, such percentage of the compensation payable for permanent total disablement as is proportionate to the lack of earning capacity (as examined by the medical practitioner) permanently caused by the injury.
4) In case of injury resulting in temporary disablement
Half-monthly payment which is equal to 25% of the monthly salaries of the workmen, to be paid by the provisions of section 4.