Maharashtra Labour Welfare Fund has become effective in the year 1953 and is applicable to all the companies in the state that has 5 or more persons employed.१
Maharashtra Labour Welfare Fund has become effective in the year 1953 and is applicable to all the companies in the state that has 5 or more persons employed. Includes all employees, including employees through contractor, except those working in the managerial or supervisory position and drawing wages more than Rs. 3,500/‐ per month.
These funds are considered as fringe benefits since they are offered through collective contribution which is supported by employee, employer who contributes three‐times of the amount contributed by the employee and the state government.
w.e.f December, 2000 Contribution is to be deducted in respect of the Employees who are present on the Muster rolls on 30th June and 31st December every year, Contribution is to be deducted from the salary of employees Twice in a year i.e. June & December every year at following rates:
Salary Slab | Employee’s Contribution | Employee’s Contribution | Total |
---|---|---|---|
Up to Rs. 3,000/- p.m | Rs. 6/- | Rs. 18/- | Rs. 24/- |
Rs. 3,001/- p.m and more | Rs. 12/- | Rs. 36/- | Rs. 48/- |
Excluding manager & person working as a | supervisor drawing salary above Rs.3500/-p.m |