{"id":100,"date":"2024-04-06T04:59:21","date_gmt":"2024-04-06T04:59:21","guid":{"rendered":"https:\/\/ehs-hub.contentstudioo.com\/?p=100"},"modified":"2025-01-11T10:41:05","modified_gmt":"2025-01-11T05:11:05","slug":"accident-cost-to-the-management","status":"publish","type":"post","link":"https:\/\/ehs-hub.contentstudioo.com\/index.php\/2024\/04\/06\/accident-cost-to-the-management\/","title":{"rendered":"ACCIDENT COST TO THE MANAGEMENT"},"content":{"rendered":"\n
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\"\"\n\t\t\t\n\t\t\t\t\n\t\t\t<\/svg>\n\t\t<\/button><\/figure>\n<\/figure>\n\n\n\n

Management suffers two types of costs;<\/p>\n\n\n\n

1.Direct or Insured or Tangible costs<\/p>\n\n\n\n

2.Indirect or Uninsured or Intangible (hidden) cost<\/p>\n\n\n\n

Direct Costs:<\/p>\n\n\n\n

\u25baThis includes compensation paid to the injured person, or insurance premium, medical and hospital charges, transport charges directly paid by the employer.<\/p>\n\n\n\n

\u25baDirect cost is easy to calculate as their money value is directly available.<\/p>\n\n\n\n

\u25baIf hospital charges, doctor\u2019s bill, medicine bill or other expenditure is paid by insurance company, only premium cost should be considered.<\/p>\n\n\n\n

\u25baDirect cost includes insured expenditure and direct payment only.<\/p>\n\n\n\n

INDIRECT COST:<\/h3>\n\n\n\n

\u25baThey are of many types and need careful consideration to determine their \u2018equivalent money value\u2019.<\/p>\n\n\n\n

<\/p>\n\n\n\n

\u25baThey include following;<\/p>\n\n\n\n

1.Cost of wages paid for working time lost by injured workers, other than workers\u2019 compensation payments<\/p>\n\n\n\n

2.Cost of wages paid for working time lost by workers, other than injured worker(s).<\/p>\n\n\n\n

3.The net cost to repair, or replace material or equipment that was damaged in accident.<\/p>\n\n\n\n

4.Extra cost due to overtime work necessitated by accident.<\/p>\n\n\n\n

5.Cost of wages paid to supervisors for their time required for activities necessitated by accident.<\/p>\n\n\n\n

6.Wage cost due to decreased output of injured worker after return to work.<\/p>\n\n\n\n

7.Cost of learning period and preparation of new workers.<\/p>\n\n\n\n

8.Uninsured medical cost borne by the company.<\/p>\n\n\n\n

9.Cost of time spend by higher officers, outsiders and clerical workers on investigation or in restarting the production in processing compensation application, procedure and other administration.<\/p>\n\n\n\n

10.Cost of work interruption due to idle machine, work stoppage or spoilage.<\/p>\n\n\n\n

11.Cost of property (including material and equipment) damage due to accident.<\/p>\n\n\n\n

12.Uninsured other costs and the miscellaneous unusual costs.<\/p>\n\n\n\n

<\/p>\n","protected":false},"excerpt":{"rendered":"

Management suffers two types of costs; 1.Direct or Insured or Tangible costs 2.Indirect or Uninsured or Intangible (hidden) cost Direct Costs: \u25baThis includes compensation paid … <\/p>\n","protected":false},"author":2,"featured_media":430,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[129],"tags":[12,48,47,49,21,7,50,13,8,20,19,3],"class_list":["post-100","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-safety-blog","tag-accident","tag-accident-cost","tag-accident-cosyt","tag-direct-accident-cost","tag-gujaratsafetycouncil","tag-india-law-for-safety","tag-indirect-accident-cost","tag-industrial-accident","tag-industrial-safety","tag-pdis","tag-post-diploma-in-industrial-safety","tag-safety"],"_links":{"self":[{"href":"https:\/\/ehs-hub.contentstudioo.com\/index.php\/wp-json\/wp\/v2\/posts\/100","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ehs-hub.contentstudioo.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ehs-hub.contentstudioo.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ehs-hub.contentstudioo.com\/index.php\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/ehs-hub.contentstudioo.com\/index.php\/wp-json\/wp\/v2\/comments?post=100"}],"version-history":[{"count":1,"href":"https:\/\/ehs-hub.contentstudioo.com\/index.php\/wp-json\/wp\/v2\/posts\/100\/revisions"}],"predecessor-version":[{"id":103,"href":"https:\/\/ehs-hub.contentstudioo.com\/index.php\/wp-json\/wp\/v2\/posts\/100\/revisions\/103"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ehs-hub.contentstudioo.com\/index.php\/wp-json\/wp\/v2\/media\/430"}],"wp:attachment":[{"href":"https:\/\/ehs-hub.contentstudioo.com\/index.php\/wp-json\/wp\/v2\/media?parent=100"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ehs-hub.contentstudioo.com\/index.php\/wp-json\/wp\/v2\/categories?post=100"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ehs-hub.contentstudioo.com\/index.php\/wp-json\/wp\/v2\/tags?post=100"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}