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:
The full form of LWF is Labor Welfare Fund.
LWF provides social security and assistance to employees when they are in need. It is a kind of financial assistance.
Under the Act, the employee, employer and the State Government have to contribute at the rate of 6:12:6 respectively per employee per annum.
To provide social security to such workers, Government has introduced Labor Welfare Fund to ensure assistance to unorganized labours.
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