Labour Welfare Fund(LWF) What is the service about ?
Labour Welfare Fund Act (LWF) and Benefits under which ever State this LWF Act is made applicable, is managed by Labour Welfare Board constituted in that particular State. The labour welfare funds are managed by each independent State with a view to promote the Welfare of the employees and their dependents. The respective Boards collects contributions from the employees and the employers of the establishments The Board with the fund, so collected, implements various Labour Welfare Schemes for the betterment of workers who are contributing to various schemes under the Labour Welfare Fund Act.
Besides maintaining the core value system of Labour Welfare Schemes, different types of welfare measures such as outdoor and indoor games, competition in games and sports, cultural and educational functions are planned and on days of national holidays and other special days are celebrated with the active participation of hundreds and hundreds of workers, their family members, and others. The Welfare Schemes and various programs are organized and executed mainly through the Labour Welfare Centers set up in different industrial areas of the respective States. Some of the States even go out of their way to the extent of maintaining several auditoria for the workers where they can and do hold social and cultural functions and celebrate festivals. The Board puts in a lot of effort in its endeavor to extend welfare amenities to more and more workers particularly the underprivileged ones keeping abreast with growing industrialization and burgeoning economy of the state.
Labour Welfare Fund
The State Labour Welfare Board decides the contribution amount and periodicity of the contribution. The LWF contribution and frequency of remittance differs with every state. In some States, the periodicity is yearly (Andhra Pradesh, Haryana, Karnataka, Tamil Nadu, etc) and in some States, it is to be contributed during the month of June & December (Gujarat, Madhya Pradesh, Maharashtra, etc).
The Labour Welfare Fund Act earmarks clearly to which category of employees working in the establishment, the scheme is applicable. There is a clear indication of dependency on wages earned and the role/designation of the employees. Also, there are other criteria where it is necessary to check the total number of employees working before extending this Act to the establishments. The applicability of the LWF Act based on the number of employees may differ from State to State as per enactments done by respective State Legislatures.
Any issue with the LWF Act by way of defaulting or delaying any payment of contributions, the authorities will impose huge penalties and even cancellation of the license may happen. Thus, at Karma Management Global Consulting solutions Pvt. Ltd. there is every attempt to act in the best interest of the clients to whom we give valuable service. Under the Labour Welfare Fund process or LWF Scheme, Karma handles a variety of services so essential for the clients to remain compliant at all times, and some of the prominent ones are listed below :
- LWF Registration and enrollment – There has to be starting date for LWF applicability to an establishment which has to be carefully determined. Upon identifying the date of applicability, suggesting the way forward in terms of the process followed towards registration, determining past contribution (if any), setting up timelines with Legal/Compliance/HR, Karma’s team ensures smooth and effective compliance on a monthly basis.
- LWF Challans - Diligently working out the LWF contributions correctly and ensuring that the salary process happens smoothly with much ease including calculations and deductions towards depositing the same along with Form 'A' within the prescribed time as per Act.
- LWF Returns Filing - Online Maintenance of all statutory registers and submission of form required by the Labour Department including the register of Unclaimed Wages, Register of Fines, etc
- LWF Inspection Management - close coordination with the officials for guidance and execution on account of changes/amendments, etc.
- LWF Liaison – close coordination with the officials for guidance and execution on account of changes/amendments etc.
- LWF Advisory - Keeping the HR/Compliance teams and Clients updated on any new amendments/circulars/notifications pertaining to the LWF Act. Timely Update is provided in regard to any change in constitution or law related to Labor Welfare Fund Act or LWFscheme.
- LWF MIS - Assisting employers during closures, mergers, amalgamations, union issues which has an impact on employees LWF.
Labour Welfare Fund(LWF) What value does the client get ?
The complexities arising from the enactment of the LWF Act and the imposition, execution, and delivery, makes the work of compliance professionals, not only to be truly dedicated but also in the ever-changing technological world, there is a need to work with the latest automated tools. This is so because, each States’ contribution, frequency, and periodicity differs from State to State and such kind of accuracy is possible only with a state of the art tool like “We Process” which encompasses all complex working within its environment.
Thus taking into consideration all these aspects and varying dimensions of the LWF Act of each State, this cloud-based process that is supported by our in-house developed technology “We Process” and machine-based Compliance Chatbot, ensures a complete and accurate experience that helps monitor, plan, and forecast accurately.
Karma Management Global Consulting Solutions Pvt. Ltd. imbibes the spirit of being critical to providing a positive customer experience. Our optimization software gives efficient deliveries as per the expectations of every client with whom Karma is partnering to render this LWF consultancy services.
Karma has been in this field for over 25 years delivering customer experience in cumbersome areas of payroll compliance, governance, and HR services, thus having successfully gained our client’s trust by offering them out-of-the-box solutions, something which they have never imagined.
Karma’s hardcore value to clients is its ability to plan, route, track, communicate and analyze all from one easy-to-use solution offering flexibility, visibility, and control.
We also have a practice in place to reevaluate the way we plan our delivery results so as to give ultimate productive benefits to our satisfied customers with the kind of technology and optimization on hand to the hundreds of companies that we are associated with… Due to the difference in the slab of contributions, it is essential to meticulously manage these LWF processes and it is inevitable that this tedious process is done without the least manual interventions, so as to guarantee error-free operation. Karma’s top-tier customized software, “We Process”, innovatively evolved and packaged with dedicated teams and packed with top technical talent, brings about tech-enabled transformation for maximizing impact.
Labour Welfare Fund(LWF) What tools do we use ?
WE PROCESS, our very own software environment, is a combination of design principles, perfectly suitable to solve problems in the complex compliance domains and thus this easy to use application determines and controls all the different slabs of the Labour Welfare Fund calculations which itself gives a big relief to the LWF work of micro small, medium and large enterprises.
This is amply demonstrated with the powerful possibilities and flexibility of our software environment “WEPROCESS” tool having a strong interface to carry out methodical calculations across industry and respective States. This cloud-based solution enables businesses to file their Labour Welfare Fund contributory compliances much faster and with ease, thereby equally maintaining the spirit of confidentiality.
Karma provides its employees with training that gives our staff the tools they need to carry good service throughout the entire customer experience.
The WE PROCESS tool for controlling LWF calculations State-wise has emerged as a powerful means for sustaining organizational operations, helping to build trust and relationships among our various clients with the kind of approaches that Karma takes to execute the work with dynamic capabilities.
AI has taken the center stage in Karma’s capability developments and is a growing force with high potential to handle the LWF work of each and every industry across the States including retail and manufacturing. Our innovative products are being embedded with virtual assistants while chatbots are answering customer questions on basic requirements so as to give prompt responses to our valuable clients in an instant, rather than searching the website for information. Responding quickly to queries has always been a culture predominantly rocked inside us as a core value of our working environment
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