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Welcome to Zero to Hero with Jeeva ! In this video I have explained about workmen's compensation act and Workmen's Compensation policy in Tamil. Contact me at 8072658012 for any clarification and policy requirements. #workmencompensationact #workmencompensationpolicy #workmenscomprnsationimsurance #employerliability #workplacesafety #employeeprotection Understanding Workmen's Compensation and Insurance: Everything You Need to Know." Introduction Workmen's compensation and insurance are two essential elements in the modern workplace. Employees and employers alike need to have a solid understanding of these concepts to ensure they're protected in case of an accident or injury. This video aims to provide a comprehensive overview of workmen's compensation and insurance, including how they work, what they cover, and why they're so important. What is Workmen's Compensation? Workmen's compensation, also known as workers' compensation, is a system that provides financial and medical benefits to employees who are injured or become ill as a result of their job. The system is designed to ensure that employees receive fair compensation for any work-related injuries or illnesses, regardless of who was at fault. The concept of workmen's compensation dates back to the early 20th century when workplace safety was a significant concern, and work-related injuries were common. Before the introduction of workmen's compensation laws, injured employees had to sue their employers to receive compensation. The legal process was slow and expensive, and employees often ended up without any compensation at all. Workmen's compensation laws were introduced to make the process easier, faster, and more affordable for employees. How does Workmen's Compensation work? Workmen's compensation laws vary from state to state, but they generally work in the same way. When an employee is injured or becomes ill as a result of their job, they must report the injury or illness to their employer immediately. The employer will then initiate the claims process by notifying their workers' compensation insurance carrier. The insurance carrier will review the claim and determine whether it's valid. If the claim is approved, the insurance carrier will pay for the employee's medical expenses and lost wages. The amount of compensation that an employee receives varies depending on the severity of their injury, the amount of time they're unable to work, and other factors. In some cases, an injured employee may receive a lump-sum settlement instead of ongoing compensation payments. The settlement is a one-time payment that's intended to cover all of the employee's medical expenses and lost wages. The settlement amount is usually negotiated between the employee, their employer, and the insurance carrier. Why is Workmen's Compensation important? Workmen's compensation is important for several reasons. First, it ensures that injured employees receive fair compensation for their injuries or illnesses, regardless of who was at fault. Second, it helps to prevent employees from suing their employers for workplace injuries, which can be costly and time-consuming. Finally, workmen's compensation laws help to promote workplace safety by holding employers responsible for providing a safe work environment. In the context of the workplace, there are several types of insurance that employers may purchase to protect themselves and their employees. These include workers' compensation insurance, liability insurance, and property insurance. Workers' Compensation Insurance Workers' compensation insurance is mandatory in most states, and it provides coverage for work-related injuries and illnesses. Employers are required to purchase workers' compensation insurance for all of their employees, and the premiums are based on the number of employees and the nature of the work they do. workmen compensation act 1923workers comp insuranceWorkmen compensation policy in tamilEmployee benefits explainedemployee benefitstips workplace safetyWorkers rightsworkers rights amendmentWorkplace injuriesunderstanding workplace injuries'Legal requirementsEmployer responsibilities in the workplaceEmployee protectionFinancial protectionWorkmen's compensation act 1923employee compensation act 1923 Social media accounts YouTube channel link / @jeevarajfredrick Facebook Page - / jeevarajfredrick Instagram Creator Account - / zero_to_hero_with_jeeva Twitter - / jeevaraj_nft Linked In Page - / zero-to-hero-with-jeeva Telegram Channel- https://t.me/smart_investment_forum Pinterest https://pin.it/6nh5a0H Moj https://mojapp.in/@zerotoherowithjeev... Sharechat https://sharechat.com/profile/zerotoh...