Is professional tax applicable in Madhya Pradesh?
Madhya Pradesh falls under the category of states that charge professional tax. The professional tax amount to be paid depends on the professional tax slab rate of the particular state. The tax slab rate is different for each year.
Is professional tax a statutory due?
The states which impose professional tax are Punjab, Uttar Pradesh, Karnataka, Bihar, West Bengal, Andhra Pradesh, Telangana, Maharashtra, Tamil Nadu, Gujarat, Assam, Kerala, Meghalaya, Odisha, Tripura, Madhya Pradesh, Jharkhand and Sikkim . It is mandatory to pay professional tax.
Is professional tax deducted every month?
Professional tax is calculated every month based on your gross salary for that month. The professional tax will be levied on this amount of Rs. 40,000. So, each month based on the increase or decrease of your gross salary, your professional tax slab will also differ and accordingly, your employer will deduct this tax.
What is LWF in salary slip?
Labour welfare fund is a statutory contribution managed by individual state authorities. It is an aid in the form of money or necessities for those in need. The Labour Welfare Fund Act incorporates various services, benefits and facilities offered to the employee by the employer.
How is LWF calculation?
LWF deduction is based on the rates as per applicable under state rules, which is listed below. LWF deduction is managed into two parts, ‘LWF Employee Contribution’ and ‘LWF Employer Contribution’. The employee part is deducted from salary. The deduction will be monthly, on half yearly, or annual based on state act.
How is LWF calculated in salary?
if gross Salary is above 100000 and <=150000 then 20% of gross salary +1000. if Gross Salary is >150000 then 30% of gross Salary + 1000. L.W.F Calculation: L.W.F will be calculated as per state wise.
Is employee covered under LWF?
In order to provide social security to workers, the government has introduced the Labour Welfare Fund Act. This act has been implemented only in 16 states out of 37 states including union territories. The Labour Welfare Fund Act is not applicable to all category of employees working in the establishment.
Which employees are covered under LWF?
Delhi’s rules w.r.t to the LWF scheme As share of employer, the contributions should be made before the 15th Day of July and 15th Day of January for every six months, every year. For all employees (except those working in the managerial or supervisory capacity and drawing wages exceeding Rs. 2500/- only per month.)
Who is responsible for Labour welfare fund?
Both employee and employer are eligible to contribute towards the employee’s LWF (Labour welfare fund).
In which states is LWF applicable?
Currently, this Act is enacted and applicable in the States of Andhra Pradesh, Chandigarh, Chhattisgarh, Delhi, Goa, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Tamil Nadu, Telangana & West Bengal.
Is LWF applicable in Karnataka?
Rules: The Karnataka Labour Welfare Fund Rules, 1968 – applies to the whole State of Karnataka.
How can I register for Labour Welfare Fund in Maharashtra?
1. HOME PAGE :- Open. the website of Maharashtra Labour Welfare Board (MLWB) as shows below. In the Home page of MLWB Portal an Employer Login link “Application for Employer Registration” is available.
Is LWF applicable in Maharashtra?
Maharashtra Labour Welfare Fund has become effective in the year 1953 and is applicable to all the companies in the state that has 5 or more persons employed.
How can I file my LWF return online in Maharashtra?
Generate the Establishment User ID and password and log in with this ID and password. Ensure that you upload clear scanned documents. Then you have to enter Labour details, such as the name, mobile contact number, etc. For a large number of employees, you can upload an Excel sheet with the relevant details.
What is Maharashtra Labour Welfare Fund Act?
The Maharashtra Labour Welfare Fund Act is an act to provide for the constitution of a Fund for the financing of activities to promote welfare of labour in the state of Maharashtra for conducting such activities and for certain other purposes.
How is Labour Welfare Fund calculated in Maharashtra?
6.00 for an employee who earns Rs. 3000/- while it is Rs. 12 for those who earn more than 3000. Whereas the company contributes is three times what the employee contributes, that is – Rs.
Why Labour welfare fund is deducted?
Labor Welfare Fund (LWF) is administered by the Ministry of Labor, government of India, in order to provide social security to unorganized labors. It is a deduction made from the employee’s wages as well as from the employer.