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What is the contribution period for Labour welfare Fund in Gujarat?

by Minnie

What is the contribution period for Labour welfare Fund in Gujarat?

Labour Welfare Fund (LWF) – Gujarat
Applicability of Act The provisions of the Act shall be restricted to establishments employing five or more persons, as per section 2(4) of the Act.
Contribution Period June and December
Periodicity Half yearly
Last Day of Submission 31st July and 31st January

What is the amount of Labour welfare fund contribution?

0.2% of the salary or any remuneration subject to a limit of Rs. 25/-. The rate of contribution from an employer is twice the amount contributed by such employee.

Is LWF applicable in Gujarat?

The Gujarat Labour Welfare Fund Rules extends to the whole of Gujarat region.

How is LWF calculated in salary?

LWF deduction is based on the rates as per applicable under state rules, which is listed below. LWF deduction is managed into two parts, ‘LWF Employee Contribution’ and ‘LWF Employer Contribution’. The employee part is deducted from salary. The deduction will be monthly, on half yearly, or annual based on state act.

Who is responsible for Labour welfare fund?

Both employee and employer are eligible to contribute towards the employee’s LWF (Labour welfare fund).

What is ESI and LWF?

There are 4 main statutory components in India. Employee Provident Fund (EPF) Employee State Insurance (ESI) Professional Tax (PT) Labour Welfare Fund (LWF)

Who is applicable for LWF?

As per Karnataka Labour Welfare Act, it is madatory for factory, plantations, workshops, motor, ominibus services and shops and commercial establishment/ ITBT firms more than 50 employees, charitable trust, registered societies to pay contribution in the ratio of Rs. 20:40 (employees:employers) & remit it online.

What is LWF contribution in India?

Labour welfare fund is a statutory contribution managed by individual state authorities. It is an aid in the form of money or necessities for those in need. It provides facilities to labourers in order to improve their working conditions, provide social security, and raise their standard of living.

What is professional tax in Gujarat?

Gujarat Professional Tax Slab Rates and rates

Monthly Income of the TaxPayer Professional Tax Amount Payable
For salary up to Rs.5,999 Nil
For salary between Rs.6,000 to Rs.8,999 Rs.80
For salary between Rs.9,000 to Rs.11,999 Rs.150
For salary of Rs.12,000 and above Rs

What is Lfw in salary slip?

Majority of labour force in India is working in unorganized sector. In order to provide social security to such workers, Government has introduced Labour Welfare Fund to ensure assistance to unorganized labours. The contribution to LWF fund by the employee is Rs. 6 for salary upto Rs. 3000 and Rs.

What is EWF in salary slip?

The Employee Welfare Fund (EWF) is a compulsory fund to which an employee contributes. The Employee Welfare Committee of the company handles the EWF that is used to provide benefits or gift coupons to employees.

What is Labour welfare measures?

Labour welfare entails all those activities of employer, which are directed towards providing the employees with certain facilities and services in addition to wages or salaries. Labour welfare implies providing better work conditions for example, proper lighting, cleanliness, low noise, etc.

What are the benefits of Gujarat Labour Welfare Fund?

Gujarat Labour Welfare Fund benefits-LWF Act The Gujarat Labour Welfare Fund Act, 195 Rule The Labour Welfare Fund (Gujarat) Rules, Applicability Any Employer/Establishment employing ten Frequency Half Yearly Form Form-A-1

What is the salary limit for LWF in India?

The contribution to LWF fund by the employee is Rs. 6 for salary upto Rs. 3000 and Rs. 12 for salary above Rs. 3000. Employer contribution is double than that of the employee.

What does Labour Welfare Fund ( LWF ) mean?

Labour Welfare Fund (LWF) LWF LWF March 23, 2016 at 06 : 17 PM Labour welfare refers to all the facilities provided to labour in order to improve their working conditions, provide social security and raise their standard of living. Majority of labour force in India is working in unorganized sector.

What is the applicability of LWF in Madhya Pradesh?

Madhya Pradesh LWF details are given below: Applicability of Act: In MP all employees covered who worked for a minimum of 30 days in a calendar year. Employees Covered: MP all employees covered who worked for a minimum of 30 days in a calendar year. Contribution Period: On semi-annually basis.