The Maharashtra Government on 18th march, 2024 issued a notification regarding the Maharashtra Labour Welfare Fund (Amendment) Act, 2024. The Act stipulates the amendment specifying the rates of contribution payable by both employees and employers every six months. It details the rates of contribution for employees whose names appear in the establishment’s register on specific dates and outlines the conditions and limitations for potential increases in the contribution rates.
The Act specifies that the contribution payable every six months by both employees and employers is to be calculated at specific rates, with provisions for potential increases in the employee’s contribution rate as approved by the State Government.
