Agreement for Compromise between the Employer and Workman for Payment of Compensation Under Workmen's Compensation Act
THIS AGREEMENT is made at __________ on this
______ day of ___________, 2000, between A B Co. Ltd., a company incorporated
under the Companies Act, 1956 and having its registered office at
________________ hereinafter called "the Employer" (which expression
shall unless repugnant to the context or meaning thereof include its successors
and assigns) of the ONE PART and Mr. X S/o _________,R/o _______________
hereinafter called "the workman" (which expression shall unless
repugnant to the context or meaning thereof, include his heirs, executors,
administrators and assigns) of the OTHER PART.
WHEREAS the workman was employed by the employer
in its factory in the capacity of ___________ and on ________ he was injured by
an accident arising out of and in the course of his employment, in respect of
which he claims that the employer is liable to pay him compensation under the
Workmen's Compensation Act.
WHEREAS in order to avoid litigation in respect
of the said claim, the parties hereto are desirous that the liability of the
employer (if any), shall be satisfied by the compensation herein agreed to be
made.
NOW THIS DEED WITNESSETH THAT IT IS HEREBY
AGREED AS FOLLOWS:
1. The employer shall pay the workman the sum of Rs. __________ as
compensation for such injury as aforesaid on __________.
2. The employer shall also pay the workman the sum of Rs. _________in
respect of the costs of his medical attendance and other expenses.
The workman shall accept the before mentioned
payments in full discharge of all liability of the employer to pay compensation
under the Workmen's Compensation Act or any law for the time being in force and
doth hereby release the employer from any and all liability in respect of the
injury caused to the workman and from any and all liability for any damages,
which may result to the said workman in future on account of the said injury.
IN WITNESS WHEREOF, the employer hereto has set
its hands and seal and the workman has set his hands hereunto and to a
duplicate hereof, the day and the year first hereinabove written.
The common seal of ABC Co. Ltd. has been
hereunto affixed pursuant to the Resolution of its Board of Directors dated the
_____ day of __________, 200-__, in the presence of Shri ______________ and
_________________Directors who have signed in token thereof.
Signed and delivered by A, the with in named
workman
WITNESSES;
1. Name & Signature
2. Name & Signature
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