MANAGEMENT

Detailed explanation-1: -The Worker’s Compensation Act 1923 (now called the Employee Compensation Act) states that “if a personal injury is caused to an employee by accident arising out of and in the course of his employment, their employer will be liable to pay compensation”.

Detailed explanation-2: -The workmen’s compensation act, 1923, is a type of social security legislation. The compensation is paid in event of an accident or injury (including some occupational disease) that arises out of or during the employment and that results in total or partial disablement or demise of the worker.

Detailed explanation-3: -If an injury caused to an employee from the accident results in his permanent or partial disablement for a period in excess of three days, then the employer shall be liable to render compensation to such employee.

Detailed explanation-4: -Employer’s Non-liability for payment of Compensation As per Section 3(1) of the Employees Compensation Act, 1923, the employer is not liable to pay compensation in following cases: If the injury does not end in the entire or partial disablement of the employee for a period exceeding three days.

Detailed explanation-5: -What Is Professional Liability Insurance? Professional liability insurance helps cover you and your company if you make a mistake in the professional services given to a customer or client. This coverage is also known as errors and omissions insurance (E&O). Even if you’re an expert in your business, mistakes happen.