Understanding Labour Welfare Fund (LWF): Benefits and Contributions

08 Feb, 2024

The Labour Welfare Fund (LWF) is a mandated fund managed by state government authorities across India. The frequency and amount of contributions to the LWF are determined by the respective state Labour Welfare Boards and vary from state to state.

Both employers and workers make contributions to the LWF for the welfare of workers. While some states require an annual contribution, others mandate contributions every six months.

Labour Welfare Fund (LWF) Benefits:
The Labour Welfare Fund offers various benefits that workers can avail themselves of, including:

Access to educational facilities for their children.
Provision of medical facilities for workers and their families.
Transportation support for commuting to work.
Loans for housing purposes, enabling them to build houses at discounted rates.
Support for establishing home-based industries and additional occupations, particularly for unemployed workers and women.
Opportunities for vocational training.
Provision of nutritious food for children.

These benefits are aimed at enhancing the overall welfare and well-being of workers and their families.

LWF Contribution

In accordance with the regulations outlined in the Labour Welfare Fund Act, both employers and employees are obligated to contribute towards the Labour Welfare Fund. Typically, employers make contributions on behalf of their workers from their salaries or wages.

These contributions are made either annually, semi-annually, or monthly, with the specific frequency, date, and amount varying from state to state. Employers are required to submit their contributions to the Labour Welfare Fund Board in the designated format prior to the specified deadline.

Click the link below to know where LWF is not applicable
https://kb.bizproutx.com/doku.php?id=lwf:labour_welfare_fund

Publisher: Monisha Ponnappa | Bizprout Expert Systems Private limited