BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -The policy compensates employees if they are injured at the workplace. Work-related fatalities and illnesses are also covered under this policy. This type of insurance also provides financial relief to employers as it can cover the legal costs when employees press charges.

Detailed explanation-2: -The employee compensation insurance is the primary method by which an employer can demonstrate the ability to satisfy the obligations imposed by the employee’s compensation statutes. It is compensation payable under a scheme set out in the Employee Compensation Act of India, monitored by the Ministry of Labour.

Detailed explanation-3: -For example, an employee got an injury in his ankle while unloading a truck of goods. This injury at the ankle caused him to limp and resultantly he was having back pain. Workers’ Compensation Insurance can help to cover his treatment of back pain because it was because of his ankle injury.

Detailed explanation-4: -sickness, temporary incapacity for work resulting from such a condition, total or partial loss of earning capacity, likely to be permanent, and. the loss of support suffered by dependents as the result of the death of the breadwinner.