Introduction: The Maharashtra Labour Welfare Fund Amendment Act 2024 marks a significant update in the state’s labor regulations, particularly concerning contribution rates. Effective from its enactment, this amendment entails a notable increase in the contribution rates for both employees and employers.
Detailed Analysis:
1. Amendment Overview: The amendment, reflected in section 6BB of the Maharashtra Labour Welfare Fund Act XL of 1953, introduces revised contribution rates.
2. Revised Contribution Rates:
- Employee Contribution: The Act now mandates a contribution of Rs 25 per employee, payable semi-annually.
- Employer Contribution: Employers are now obligated to contribute thrice the amount payable by each employee, as specified in clause (a) of the amendment.
3. Provision for Revision: The State Government retains the authority to revise the employee contribution rate once every three years. However, any increase is capped at thirty percent of the existing rate, as stipulated in the Act.
4. Legal Framework: The Act is enacted under the authority vested in the Seventy-fifth Year of the Republic of India, emphasizing its legal significance and adherence to constitutional provisions.
5. Publication and Implementation: The Act’s publication in the Maharashtra Government Gazette on March 18, 2024, signifies its immediate effect upon the specified date.
Conclusion: The Maharashtra Labour Welfare Fund Amendment Act 2024 reflects the state government’s commitment to enhancing labor welfare measures. By revising contribution rates, the Act aims to ensure sustainable funding for welfare initiatives while balancing the interests of both employees and employers. Understanding the implications of these amendments is crucial for compliance and effective labor management in Maharashtra.
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Monday, 18th March 2024
By order and in the name of the Governor of Maharashtra,
SATISH WAGHOLE,
Secretary (Legislation) to Government,
Law and Judiciary Department.
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MAHARASHTRA ACT No. XXV OF 2024.
(First published, after having received the assent of the Governor in the “ Maharashtra Government Gazette ”, on the 18th March 2024.)
An Act further to amend the Maharashtra Labour Welfare Fund Act.
XL of 1953. WHEREAS it is expedient further to amend the Maharashtra Labour Welfare Fund Act, for the purposes hereinafter appearing; it is hereby enacted in the Seventy-fifth Year of the Republic of India, as follows :—
1. Short title. This Act may be called the Maharashtra Labour Welfare Fund (Amendment) Act, 2024.
XL of 1953.
2. Amendment of section 6BB of XL of 1953. In section 6BB of the Maharashtra Labour Welfare Fund Act, for sub-section (2), the following sub-section shall be substituted, namely :–
“(2) The amount of contribution payable every six months in respect of every employee and an employer for each such employee shall be at the following rates, namely :–
(a) in respect of an employee, whose name appears in the register of an establishment on the 30th June and 31st December, respectively, shall be at the rate of twenty-five rupees:
Provided that, the State Government shall on receipt of a proposal from the Board, by notification in the Official Gazette, increase once in every three years, the rate of employee’s contribution so, however that, such increase shall not exceed thirty per cent. of the rate of contribution;
(b) in respect of an employer, for each employee referred to in clause (a), thrice the amount of contribution payable by an employee.”.
