The Maharashtra Labour Welfare Fund Act, 1953 is a social security scheme launched by government of India.
Any business, establishment and factory when reaches five employee count must take MLWF Registration and comply to their compliance as per the rules of the act. Employers and employees covered under the Maharashtra Labour Welfare Fund Act make contribution to the Fund half-yearly.
Every year: JUNE and DECEMBER are the contributory months for MLWF. Employers and HR professionals and the staff who run Payroll for their organizations must deduct MLWF from the employee salary of JUNE and DECEMBER. Employees MLWF deduction is Rs. 25/- and Employer contribution to the fund is Rs. 75/-. Total Rs. 100/- contribution per employee.
The Act is not applicable to the person who is employed mainly in a managerial capacity or who is being employed in a supervisory capacity, or exercises powers or carries out, either by the nature of the duties attached to the office, or by reason of the powers vested in him, functions mainly of a managerial nature.
The Act is also not applicable to the person who is employed as an apprentice under the Apprentice Act, l961.
The MLWF Board invest received contribution in of the securities specified in clauses (a) to (d) and (f) of section 20 of the Indian Trusts Act, 1882 (11 of 1882).
Always avail of MLWF Registrations and MLWF filing services from reputed MLWF Consultants to ensure that you have a proper and correct registration.
