About this document:
When a personal injury caused by an accident in the course of employment renders a workman temporarily or permanently disabled, his employer shall be liable to pay compensation in accordance with the provisions of Workmen’s Compensation Act.
The employer and workman can agree to settle the amount of compensation and sign a compromise agreement where any compensation has been so settled as being payable to the workman. It is thereafter mandatory to submit the said memorandum of compromise agreement to the Commissioner, who on being satisfied as to its genuineness will register the same in the prescribed manner.
If an agreement of this nature has been reached between the workman and the employer, and registered, the workman will be prevented from taking up any suit for damages or claim for compensation for the same cause of action.
Who will use this document?
Employer finalizing terms of a compromise with a workman in respect of payment of compensation for a personal injury caused to the workman in the course of employment.
Key features:
· Designed to commensurate with the requirements of appropriate provisions in the Workmen’s Compensation Act, 1923;
· Provides a complete framework;
· Protects employer and binds both parties;
· Standard document to meet statutory provisions;
· Detailed notes that help you execute the agreement;
This document includes provisions for:
· Appropriate legal provisions - warranties, exclusions, indemnities, etc.;
· Terms of settlement that appropriately protect both parties;
· Warranties and representation of the parties;
· Successors and assigns;
· Reasonableness of the compromise;
· Entire understanding;
· Receipt;
