The Maharashtra Labour Welfare Fund (Amendment) Bill, 2024 was introduced in the Maharashtra Legislative Assembly on March 1, 2024. The Bill amends the Maharashtra Labour Welfare Fund Act, 1953. The Act sets up the Labour Welfare Fund for the benefit of factory workers, and employees in shops and restaurants. The Fund may be used for community education centres and for providing subsidiary occupations to unemployed persons.
Increase in contribution to the Welfare Fund: Under the Act, employers, employees, and the state government make contributions to the Labour Welfare Fund. An employee whose wages are below Rs 3,000 per month contributes six rupees every six months. Employees with wages above Rs 3,000 per month contribute Rs 12 every six months. The state government and employer make contributions at the rate of two times and three times the employee’s contribution respectively.
The Bill increases the rate of contribution of employees to Rs 25 every six months for all employees regardless of their income. Consequently, corresponding contributions of the state government and employers will also rise.
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