Maharashtra Labour Welfare Fund has become effective in the year 1953 and is applicable to all the companies in the state that has 5 or more persons employed, who are considered contract labours as per the Act.
Includes all employee, including employee though contractor, except those working in the managerial or supervisory position and drawing wages more than Rs. 3,500/- per month.
These funds are considered as fringe benefits since they are offered through collective contribution which is supported by employee, employer who contributes three-times of the amount contributed by the employee and the state government.
Calculation:
Here contribution from an employee is of Rs. 12/- while the employer contributes Rs. 36/-. The total contribution comes to Rs. 48/-
Payable:
The periodicity is 30th June and 31st December. The last date for submission is 15th July and 15th January respectively.