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Industrial Relation and labour law

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What is the amount of compensation that is to be paid to an employee who is totally and permanently disabled as a result from injury under the provisions of the Employees' Compensation Act, 1923? (Hints : Monthly wages drawn were Rs 22,500 and relevant factor is 159.80)

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Rs 14,38,200

Rs 23,97,000

Rs 21,57,300

Rs 7,67,040

Explanation:

- The Employees' Compensation Act, 1923, specifies compensation for total and permanent disablement as 60% of the employee's monthly wages × relevant factor.

- Monthly wages: Rs. 22,500

- Relevant factor for the age (presumably 24 years): 159.80

- Calculation: 60% of Rs. 22,500 = Rs. 13,500

Compensation = Rs. 13,500 × 159.80 = Rs. 21,57,300

- Option 3: Rs. 21,57,300 is the correct answer.

- Other options do not match this calculation.

- Option 1 (Rs. 14,38,200), Option 2 (Rs. 23,97,000), and Option 4 (Rs. 7,67,040) are not correct as per the formula.