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The Benefits That Both the Employee and Employer Could Get from the Worker’s Compensation One of the most needed things in life by each and every individuals all over the world in their entire lives, is the safety and protection, and basically, compensation is one of the top list for that, particularly the financial one because money is really essential nowadays and the saying that money makes the world go round is apparently true. Financial compensation is defined as a form of an act of providing an individual the money or any other things with economic value in an act of trading or exchanging their labor, goods, and for the cost of the injuries that they obtained or acquired such as remuneration which includes wages, salaries, royalties, executive or deferred compensation, nationalization compensation, payment, damages and worker’s compensation. Business companies, especially the big ones needs to abide the law of producing a worker’s compensation insurance system in their company, since it is really mandatory or compulsory and is required by the law of each and every state all over the world, and if not being practiced by a company would definitely lead to a serious filing of cases. A worker’s compensation insurance is designed to provide the employees or the workers with medical benefits and wage replacement if they are injured in the course of their employment in the company they are working with, and in exchange for mandatory relinquishment or abdication of the employee’s or worker’s right to sue or file a case to his or her employer for a case or crime of negligence. A legal and complete contract of a certain employee or worker should have a worker’s compensation insurance written on it, and a certain provision of solicitation can be practiced which totally depends on the jurisdiction of their local state, some of the examples of provision are for life and death insurance wherein an employer should pay the benefits and advantages of the worker’s or employee’s listed dependents if he or she got killed during his or her course of work in the company, for health insurance includes the payment and reimbursement of medical or hospital bills, compensation for economic loss and lastly is for disability insurance wherein a weekly payment should be made by the employer to his or her worker or employee in place of their supposedly wages. The benefit that an employer could get from such practice of law is that they could eventually protect their business or their company from being sued and filed cases by their worker or employee for workplace situations which could cause their employees or worker any injury, death or illness, that is the reason why the employer or owner of the business company should ensure and provide their worker or employee adequate assistance from co-worker, provide warning or any warning signs for hazards and dangers in the work place, safe workplace and safe tools and devices.

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