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Labour Welfare Fund (LWF)

Definition

A statutory contribution made by both employer and employee towards a fund established for the welfare of labourers.

Context & Importance

LWF supports workers with health, education, housing, and training benefits. It is state-specific and varies in contribution rates.

Use Cases

• Monthly payroll deductions.
• Compliance filing in applicable states.

Related Concepts

Statutory compliance, Employee Benefits.

TankhaPay Relevance

Auto-calculates and files LWF as part of your payroll compliance.