Labour welfare fund is a statutory monetary contribution that is managed by individual state governments which is predominantly in the aid of money and in specific cases in the form of necessities for those in need. Labour welfare fund provides facilities to labourers in order to improve their employable conditions by providing them social security and upgrading their standards of living. This token of money that is contributed by the employer and the employee and exclusively focuses on the welfare of the workers, is mandatory for most states and the organizations within them. Separate (State) Labour Welfare Fund Act and (State) Labour Welfare Fund Rule are framed for different states & Union Territories. Our range of services as regards to Labour Welfare Fund includes:
The complication of Labour Laws & the multitasking role of HR professionals in any organization requires some amount of dependency on automation. Taking into account this need & every dimension of LWF, this cloud-based process that is supported by our in-house developed technology WeProcess & AI-based Compliance Chatbot ensures a complete and accurate experience that helps monitor, plan, and forecast accurately. Accurate and perfect job delivery are the two things that every client expects from the consultants they are partnering with. With 20 years of experience in the field of payroll compliance, governance, and HR services, we have successfully gained our clients’ trust by offering them bespoke solutions, something which they have never imagined. A similar approach applies to our deliverables for managing the labour welfare funds of the hundreds of companies we are associated with. Due to the difference in the slab of charges, it is essential to meticulously manage these processes and it is inevitable that this tedious process cannot be done manually, because if done so it is guaranteed to be full of errors. With our tech-enabled system and using our powerhouse software tool, WE PROCESS we provide a full-proof solution to our clients.
WE PROCESS is a thorough, accurate, easy-to-use software application that capably maintains all the different slabs of the Professional Taxes and caters to both small and midmarket clients. Where it really shines is in its user-friendly interface and customizable reporting. This cloud-based solution enables businesses to file their professional taxes better and faster.
Challenge- One of the clients was having 400 branches all over India. All their offices in Harayana had less than 10 employees. However, they were still deducting LWF from those 10 employees.
Solution- We guided them and stopped LWF deduction from the salary as they were not covered under LWF as their no was less than 10. Since then, the client stopped LWF deduction, thereby saving employees as well as employers money.