CA Foundation Exam  >  CA Foundation Questions  >  Does non profit making organisation need to m... Start Learning for Free
Does non profit making organisation need to make workmen compensation reserve for their employees? First of all answer in yes or no.?
Most Upvoted Answer
Does non profit making organisation need to make workmen compensation ...
Yes

- Workmen Compensation Reserve for Non-profit Organizations:

Non-profit organizations are not required to make workmen compensation reserves for their employees as they do not operate for profit-making purposes. Workmen compensation reserves are usually set aside by for-profit organizations to cover any potential costs related to work-related injuries or illnesses of their employees.

- Legal Requirements:

Non-profit organizations are typically exempt from certain legal requirements that apply to for-profit businesses, including the obligation to set up workmen compensation reserves. However, it is essential for non-profit organizations to comply with all other labor laws and regulations that govern employee safety and well-being.

- Alternative Insurance Coverage:

Instead of creating workmen compensation reserves, non-profit organizations can opt to purchase insurance policies that provide coverage for work-related injuries or illnesses. This can help protect the organization from financial liabilities in case an employee is injured while performing their duties.

- Employee Protection:

While workmen compensation reserves may not be mandatory for non-profit organizations, it is crucial for these organizations to prioritize the safety and well-being of their employees. Implementing safety measures and providing proper training can help prevent workplace accidents and injuries.

In conclusion, non-profit organizations are not required to make workmen compensation reserves for their employees. However, they should still take steps to ensure the safety and protection of their employees through other means such as insurance coverage and safety protocols.
Explore Courses for CA Foundation exam
Does non profit making organisation need to make workmen compensation reserve for their employees? First of all answer in yes or no.?
Question Description
Does non profit making organisation need to make workmen compensation reserve for their employees? First of all answer in yes or no.? for CA Foundation 2024 is part of CA Foundation preparation. The Question and answers have been prepared according to the CA Foundation exam syllabus. Information about Does non profit making organisation need to make workmen compensation reserve for their employees? First of all answer in yes or no.? covers all topics & solutions for CA Foundation 2024 Exam. Find important definitions, questions, meanings, examples, exercises and tests below for Does non profit making organisation need to make workmen compensation reserve for their employees? First of all answer in yes or no.?.
Solutions for Does non profit making organisation need to make workmen compensation reserve for their employees? First of all answer in yes or no.? in English & in Hindi are available as part of our courses for CA Foundation. Download more important topics, notes, lectures and mock test series for CA Foundation Exam by signing up for free.
Here you can find the meaning of Does non profit making organisation need to make workmen compensation reserve for their employees? First of all answer in yes or no.? defined & explained in the simplest way possible. Besides giving the explanation of Does non profit making organisation need to make workmen compensation reserve for their employees? First of all answer in yes or no.?, a detailed solution for Does non profit making organisation need to make workmen compensation reserve for their employees? First of all answer in yes or no.? has been provided alongside types of Does non profit making organisation need to make workmen compensation reserve for their employees? First of all answer in yes or no.? theory, EduRev gives you an ample number of questions to practice Does non profit making organisation need to make workmen compensation reserve for their employees? First of all answer in yes or no.? tests, examples and also practice CA Foundation tests.
Explore Courses for CA Foundation exam

Top Courses for CA Foundation

Explore Courses
Signup for Free!
Signup to see your scores go up within 7 days! Learn & Practice with 1000+ FREE Notes, Videos & Tests.
10M+ students study on EduRev