Labour welfare fund
Labour welfare fund is a statutory grant directed by respective state administrations. The state labour welfare board specifies the amount and regularity of the subsidy. The grant and duration of remittance differ with every state. Labour welfare is monetary support and it provides facilities to workers in improving their working essentials. It further provides social security to enhance the standard of living. Various state legislatures have imposed an Act only focusing on the interest of the workers, termed as the Labour Welfare Fund Act. This Act integrates miscellaneous services, concessions and facilities that are usually offered to the worker by the company. Such facilities are presented by the means of subsidy.
Labour Welfare Fund Expenditure
- Educational compensation for worker’s children
- Transport facilities to the workers
- Medical facilities for both private and public-sector employers
- Excursions, tours and holiday homes.
- Nutritious food to children of employees.
- Reading rooms and libraries
- Recreational facilities to build a restorative working surrounding
- Home industries and subsidiary occupations
- Housing facilities with loans at concessional rates.
- Vocational training
The scope of this Act is outstretched to accommodation, family care & worker’s wellness benefit by offering medical examination, a dispensary for general treatment, baby welfare, women’s all-around education, workers training facilities, wedding, schooling, funeral etc. To know more, contact a Scayles Consultant!