HR Glossary

Labour Welfare Fund (LWF)

Labour Welfare Fund is a contribution which is managed by state authorities. It is support extended in the form of money for those who need it. It gives facilities to the labors to improve the working conditions, gives them social security, and raise their living standard. Various state legislatures have reinforced an act that focuses on the worker’s welfare and is known as the Labour Welfare Fund Act. Various services, facilities and benefits are offered to the employee from the employer’s side. The rate of contribution may vary but all these facilities are offered to employees by the employer as a means of contribution. For more detailed information, you should check labour welfare fund rates, scope, fund expenditure and applicability.