The Karnataka State Legislature has notified the Karnataka Labour Welfare Fund (Amendment) Act, 2024 (“Amendment”) and has now come into effect. This Amendment modifies the Karnataka Labour Welfare Fund Act, 1965, to revise the contribution rates to the Labour Welfare Fund and provide additional provisions for its implementation. The revised annual contribution rates are as follows:
- Employee Contribution: Increased from ₹20 to ₹50.
- Employer Contribution: Increased from ₹40 to ₹100.
- State Government Contribution: Increased from ₹20 to ₹50.
A copy of the Notification is linked below for your ease of reference.
Source: Karnataka Gazette
