Workmen Compensation (WC) Policy
Are you searching for What is Workmen Compensation WC Policy? If yes, You are at right place here you can find everything about Workmen Compensation Policy, its Benefits, Charges, Requirement, etc. We Provide WC Insurance Policy Service Across India. Workmen Compensation Insurance Policy is compulsory for Labour License Application, BOCW Registration etc.
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Workmen Compensation Insurance Policy
Welcome to our Workmen Compensation Insurance Policy page. This insurance is essential for businesses. It helps injured employees by covering their medical costs and lost wages. At the same time, it protects employers from legal issues.
In simple terms, this insurance is a safety net for both workers and businesses. We’ll explain what it is, why you need it, and how it works. Let’s explore the world of Workmen Compensation Insurance together and make it easy to understand.
Charges of Workmen Compensation Policy - WC Policy Premium
Premium of WC Policy Starts from Rs. 420 Per Workmen Per Year (Depend on Industry and Strength Price varies). We are the Cheapest WC Policy Issuer.
What are the Documents Required for WC Policy Issuance?
For the Purpose of Issuance of Workmen Compensation (Insurance) Following Documents are necessary
- Company/Firm/Proprietorship Registration Documents (GST Certificate/MSME/Shop Establishment/Incorporation Certificate – Any one)
- PAN Card and Adhar Card of Owner
- Email id and Contact Number
- Number of Employee and Term of Contract (Only Details)
What is more beneficial ESIC or WC Policy?
The choice between ESIC (Employee’s State Insurance Corporation) and a Workmen Compensation (WC) policy depends on various factors, including the size of your business, your location, and the specific needs of your employees. Here’s a brief comparison to help you understand which might be more beneficial for your situation:
ESIC (Employee’s State Insurance Corporation):
- ESIC is a government-run social security scheme in India that provides medical and cash benefits to employees in case of sickness, maternity, disablement, or death due to employment-related injuries.
- It is mandatory for employers and employees in certain establishments, typically those with 10 or more employees, to contribute to ESIC.
- ESIC covers a range of benefits, including medical care, sickness benefits, maternity benefits, and more.
- It is generally more comprehensive in terms of healthcare coverage and provides benefits beyond just compensation for workplace injuries.
Workmen Compensation (WC) Policy:
- WC is a private insurance policy that provides compensation to employees for injuries or disabilities sustained during the course of their employment.
- It is optional and can be purchased by employers to protect themselves from potential legal liabilities and provide financial support to injured employees.
- WC policies focus primarily on compensation for workplace injuries, including medical expenses and lost wages.
- Employers have more control over the coverage and can tailor it to their specific needs.
Which one is more beneficial depends on your specific circumstances. Here are some considerations:
If your business is subject to ESIC regulations and you meet the criteria, you are legally required to provide ESIC coverage to your employees.
If your business is not covered by ESIC regulations or if you want additional coverage beyond what ESIC offers, you can consider a WC policy to provide extra protection and flexibility.
Larger businesses with significant resources may choose to offer both ESIC and a WC policy to ensure comprehensive coverage for their employees.
In conclusion, ESIC and WC policies serve different purposes, and their benefits depend on your business’s size, location, and regulatory requirements. It’s advisable to consult with an insurance professional or legal advisor to determine the best approach for your specific situation.
How WC Policy is Useful where ESIC Coverage is not available?
There are some districts where Employee State Insurance Corporation Coverage is not available, In That area Workmen Compensation Policy is mandatory for Issuance of Labour License, BOCW, and To protect the Labour and Owner Interest of Legal troubles.
Workmen Compensation Policy Agent Near You
If you are looking for WC Policy, We can get your Workmen Compensation policy within One hour. We provide WC Policy in all location of India near to me(you).
FAQ's on WC Policy
- How much time is take to Issue New WC Policy?
We can provide you Instant WC Policy within One Hour.
- In Which State and City We are Serving WC Policy
- We provide Workmen Compensation Agency Service Across India, All State and City Including all Villages.
