Explain about compliance about factory act, pf, esic and lwf

Question

Accepted Answer

Compliance with Factory Act, PF, ESIC, and LWF is essential for ensuring legal and social security obligations for employees.

Factory Act: Ensures safety, health, and welfare of workers in factories. It covers aspects like working hours, employment of young persons, and hazardous processes.
PF (Provident Fund): A mandatory savings scheme for employees, where a portion of their salary is contributed towards a retirement fund. Employers also contribute to this fund.
ESIC (Employee State Insurance Corporation): Provides medical and cash benefits to employees and their dependents in case of sickness, maternity, disablement, or death due to employment injury.
LWF (Labor Welfare Fund): A statutory fund created to promote the welfare of laborers. Employers contribute a percentage of their employees' wages to this fund.
Compliance with these acts involves maintaining proper records, submitting necessary reports, and ensuring timely payment of contributions.
Non-compliance can lead to legal penalties, fines, and reputational damage for the organization.

Accepted Answer

Factory act license required above 20 manpower pf applicable more that 20 and esic more that 10

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