{"id":31838,"date":"2025-02-14T11:55:41","date_gmt":"2025-02-14T06:25:41","guid":{"rendered":"https:\/\/akriviahcm.com\/resources\/?post_type=payroll_alerts&p=31838"},"modified":"2025-02-14T11:55:41","modified_gmt":"2025-02-14T06:25:41","slug":"revised-karnataka-labour-welfare-fund-contribution","status":"publish","type":"payroll_alerts","link":"https:\/\/akriviahcm.com\/resources\/global-payroll\/alerts\/revised-karnataka-labour-welfare-fund-contribution","title":{"rendered":"Revised Karnataka Labour Welfare Fund Contribution"},"content":{"rendered":"
\n

Country:<\/b> India<\/p>\n

State:<\/b> Karnataka<\/p>\n

Compliance category:<\/b> Labour Welfare Fund (LWF) Contribution<\/p>\n<\/div>\n

\n

Regulatory Information:<\/h2>\n

Regulation: <\/b>Karnataka Labour Welfare Fund (Amendment) Act, 2024<\/p>\n

Notification\/Circular No: <\/b>DPAL 60 Shasana 2024<\/p>\n

Notification date: <\/b>January 10, 2025<\/p>\n

Source: <\/b>https:\/\/erajyapatra.karnataka.gov.in\/WriteReadData\/2025\/8085.pdf<\/a><\/p>\n<\/div>\n

\n

Updates in Compliance:<\/h2>\n

Summary:<\/strong><\/p>\n

Vide The Karnataka Labour Welfare fund (Amendment) Act, 2024 gazetted on January 10, 2025, the Government of Karnataka has increased the employee and employer\u2019s contribution rate for the Labour Welfare Fund (LWF) in Private Sector.<\/p>\n

Effective Date:<\/strong> January 24, 2025<\/p>\n

Revised LWF contributions:<\/strong><\/p>\n\n\n\n\n\n\n
Contributor<\/b><\/strong><\/td>\nOld Rate (in INR) <\/b><\/strong><\/td>\nNew Rate (in INR) <\/b><\/strong><\/td>\n<\/tr>\n
Employee Share<\/td>\n20<\/td>\n50<\/td>\n<\/tr>\n
Employer Share<\/td>\n40<\/td>\n100<\/td>\n<\/tr>\n
Total Contribution<\/b><\/strong><\/td>\n60<\/b><\/strong><\/td>\n150<\/b><\/strong><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n
\n

Our Analysis:<\/h2>\n

The increase in contributions reflects an attempt by the Board to enhance the resources available. This may be necessary to enhance the fund corpus which can further support the to implement various welfare schemes for the employees in the state.<\/p>\n

The increase may also align with inflation and rising costs associated with welfare services and other labour-related benefits. These contributions help sustain and improve the living standards of the workforce.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Country: India State: Karnataka Compliance category: Labour Welfare Fund (LWF) Contribution Regulatory Information: Regulation: Karnataka Labour Welfare Fund (Amendment) Act, 2024 Notification\/Circular No: DPAL 60 Shasana 2024 Notification date: January 10, 2025 Source: https:\/\/erajyapatra.karnataka.gov.in\/WriteReadData\/2025\/8085.pdf Updates in Compliance: Summary: Vide The Karnataka Labour Welfare fund (Amendment) Act, 2024 gazetted on January 10, 2025, the Government of […]<\/p>\n","protected":false},"author":1,"featured_media":0,"menu_order":0,"template":"","meta":{"_acf_changed":false,"footnotes":""},"countries":[708],"class_list":["post-31838","payroll_alerts","type-payroll_alerts","status-publish","hentry","countries-india"],"acf":[],"yoast_head":"\nKarnataka Announces New Labour Welfare Fund Contribution Rates<\/title>\n<meta name=\"description\" content=\"Effective from January 10, 2025, the Karnataka Labour Welfare Fund (Amendment) Act, 2024, introduces higher contribution rates. 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