LWF | Meaning and Definition

What is LWF?

The Labor Welfare Fund provides assistance to individuals in need in the form of money or needs. Every state body manages the LWF, which is a statutory contribution. It assists workers in improving their working circumstances, providing social security, and raising their living standards. The program changes from state to state, and what one state offers may not be available to other states.

The Labor Assistance Fund is used to fund a variety of welfare programs for organized-sector workers, including:

  •   In situations of need, financial help is provided to employees and their families.
  •   Workers’ skill development and training programs
  •   Medical treatment for employees and their families
  •   Plans for workers’ housing
  •   Retirement funding and other forms of social security for retired workers.