Labour Welfare Fund is a statutory fund established by state governments to promote the welfare of laborers or employees. It is governed by the respective state's labor welfare legislation.
The admin must follow the below guidelines for LWF to reflect in the salary statement:
- Automate LWF calculation for eligible employees
To automate LWF calculation for all the eligible employees, the admin must perform the following actions:
- From the greytHR Admin portal navigate to Employee > Information > Bank/PF/ESI.The Bank/PF/ESI page opens.
- From the Employee Type dropdown list, select the required option.
- In the Search by Emp No/Name search box, enter the employee name/number for whom you want to enable LWF. The page displays Bank/PF/ESI/LWF details.
- Under the LWF section, click the Edit icon. The card expands.
- Click Employee is covered under LWF check box.
- Click Save. A success message appears.
- Incorporate LWF changes in salary
To incorporate the LWF changes in the salary, the admin must perform the following actions:
- From the greytHR Admin portal navigate to Payroll > Process > Payroll Process. The Payroll Process page opens.
- Click the Process Payroll button. The page displays Checklist and Completed Tasks.
- Select the required check box from the Checklist and click Process Payroll.
If there is any miscalculation in LWF, the admin must perform following steps to correct the errors and then can reprocess the salary:
- Update employee’s location from the Position History page.
- Map the Professional Tax (PT) location from the Professional Tax Location page.
- Check the LWF Policy from the LWF Policies page.
❓FAQs: To read more FAQs about Labour Welfare Fund, click here.
📃Documentation: To learn more about the Labour Welfare Fund, click here.
▶Video: To watch the video on Bank, PF, and Labour Welfare Fund, click here.
📢Product Update: To read about the product update, click here.