MANAGEMENT

Detailed explanation-1: -Workmen’s Compensation Insurance (which is also known as Workers’ compensation insurance or Employees Compensation Insurance) is a type of insurance policy that is there to provide coverage for your business’s employees who are injured or become disabled as a result of their jobs.

Detailed explanation-2: -Worker compensation covers injuries, disabilities, and deaths of employees caused by accidents during their job.

Detailed explanation-3: -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-4: -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.