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The abbreviation, acronym or full form of WC – Workers Compensation
Abbreviation, Acronym or Full Form of WC
Workers compensation is a form of insurance which provides medical benefits and wage replacement to employees who are injured in the course of their employment. The workers become eligible for this compensation if their job involves risk of life. If the workers die in the course of their job, the dependents of the workers are eligible for the compensation and wage replacement. There are also a few cases where the employer’s negligence becomes the reason for the employ’s death. Even in such a situation, the employee becomes eligible for workers compensation.
Compensation Benefits – Compensation Payable on Death
- An amount of $425 is to be distributed among the dependants who are wholly or partly dependent on the worker.
- In addition to the above, an amount of $66 per week is to be paid to each dependent child of the worker below the age of 16 years. If the dependent child of the worker is a student, the amount of $66 per week is to be paid until the child attains 21 years of age.
Compensation Benefits – Compensation Payable when the employee is injured
- Provide coverage for all medical costs.
- In case the employee is suffering from a temporary partial disability or temporary total disability the employee will receive an amount which is equivalent to 2/3 of his salary up to a specific amount.
- In case the employee is suffering from a permanent partial disability or permanent total disability and if the employee does not fully recover from the injury he/she will be paid an amount of benefit depending on the seriousness of the permanent disability.