The Labour Welfare Fund is a statutory fund established under the LABOUR WELFARE FUND Act to promote the welfare of workers and their families. The fund is financed through contributions from employers and employees, and it is used to provide various welfare facilities and amenities for workers. We at Kaizen Consultancy Services provide complete Labour Welfare Fund Compliance Mumbai
The Labour Welfare Fund Act, 1965 (LABOUR WELFARE FUND Act) applies to the following enterprises in India:
Criteria | Applicability |
Number of Employees | Establishments employing 20 or more persons |
Industry Sectors | Factories, Mines, Plantations, Ports, Railway Companies, Shops, and Establishments as notified by the Central Government |
The Labour Welfare Fund is a statutory fund established under the LABOUR WELFARE FUND Act to promote the welfare of workers and their families. The fund is financed through contributions from employers and employees, and it is used to provide various welfare facilities and amenities for workers.
The key aspects of the Labour Welfare Fund include:
Failure to comply with the Labour Welfare Fund Act can result in various penalties, including:
Late Payment of Contributions: Employers may be required to pay interest and damages for delayed contributions to the Labour Welfare Fund.
Non-Payment of Contributions: Employers may face imprisonment and/or fines for not paying the required contributions to the Labour Welfare Fund.
Failure to Maintain Records: Employers may be penalized for not maintaining proper records and documentation related to Labour Welfare Fund contributions.
The Labour Welfare Fund is a statutory fund established under the LABOUR WELFARE FUND Act to promote the welfare of workers and their families. It is important because it provides various welfare facilities and amenities for workers, improving their overall well-being.
Employers and employees in establishments employing 20 or more persons are required to contribute a specified percentage of the employee’s wages to the Labour Welfare Fund.
The Labour Welfare Fund is used to provide various welfare facilities and amenities for workers, such as educational facilities, recreational activities, health and medical facilities, and housing.
The contributions to the Labour Welfare Fund are calculated based on a specified percentage of the employee’s wages, as determined by the respective state government.
Engaging a Labour Welfare Fund consultant in Mumbai, like Kaizen Consultancy Services, can benefit your enterprise in the following ways:
At Kaizen Consultancy Services, we pride ourselves on being the leading Labour Welfare Fund, ESIC, EPF, Gratuity, Factories Act consultant in Mumbai, offering the following advantages:
If you're an enterprise in Mumbai looking to ensure compliance with the Labour Welfare Fund Act, provide your employees with the best possible benefits, contact the expert team at Kaizen Consultancy Services Labour Welfare Fund Act Consultant Mumbai.
Call us at +91-977 31 50 167 to schedule a consultation and learn how we can assist your business.