Employers, trade unions, governmental and non-governmental institutions, and agencies are all responsible for the well-being of their employees. Anything done for the comfort and improvement of employees that is supplied in addition to their salaries is referred to as welfare. Employee welfare helps to keep morale and motivation strong, allowing employees to stay with the company for a longer period of time. Employee welfare include the monitoring of working conditions, the establishment of industrial harmony through infrastructure for health, industrial relations, and insurance for workers and their families against disease, accident, and unemployment All of the services available to workers to improve their working circumstances, offer social security, and boost their standard of living are referred to as labour welfare. Several state legislatures have passed the labour Wellbeing Fund Act, which is solely focused on the welfare of workers. We’ll tell you everything about it here!
What is the labour Welfare Fund?
Labour Welfare Fund is a fund that is contributed to by employers, employees, as well as by the government in some states. Among the benefits provided by the welfare funds are housing, medical treatment, educational programs, and recreational facilities.
Each state and Union Territory has its own labour Welfare Fund Act and labour Welfare Fund Rule.
How Does labour Welfare Fund Benefits Workers?
The labour Welfare Fund (LWF) is administered by the labour Board and provides a variety of worker welfare programmes. The schemes provide assistance in the following three categories.
Raising the Living Standard
Providing nutritious food, educational opportunities, and scholarships to employees’ children; providing medical services to private and public sector workers and their families; and providing housing at reduced prices.
Offering Better Work Conditions
Commuting to work (transport), reading rooms, libraries, vocational training programmes, excursions and tours, recreational facilities at the workplace, and so on are all examples of furnishing facilities for workers and employees.
Providing Social Security
Organizing medical treatment, industry-specific plans, and ancillary occupations for women, unemployed people, and so on.
The State Labour Welfare Board determines the amount of the fund, the rate of contribution, and the frequency of contributions. The contribution may be made once a month, once every six months (half-yearly), or once a year (annually) in the authorized amount and submitted to the appropriate Labour Welfare Fund Board in prescribed Form before the Act’s due date.
Currently, the states of Andhra Pradesh, Chandigarh, Chhattisgarh, Delhi, Goa, Gujarat, Haryana, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Punjab, Tamil Nadu, Telangana, and West Bengal have adopted and implemented this Act.
Labour Welfare Fund Benefits For Employers
Refined Industrial Relations Improvement in work efficiency Elevated Morale Improved Mental and Moral Health Better Outlook of Employers Social Benefits
The Scope of Labour Welfare Fund
This Act’s scope is expanded to include housing, family care, and worker’s health services, such as medical examinations, general treatment clinics, newborn welfare, women’s general education, workers’ activity facilities, marriage, education, and funerals, among other things. Employer, employee, and, in a few jurisdictions, government payments are used to support state-specific labour Welfare Funds.
How Does The Process Work?
The donation to the Labour Welfare Fund can be made once a year, twice a year, or once a month. Depending on the state’s unique Act, the frequency may vary. Furthermore, if the frequency is half-yearly, the deduction period is divided into two periods based on the date specified in the state-specific Act. The employer must deduct the amount from the employee’s wage and submit it to the Labour Welfare Fund board in the prescribed form by the due date.
Labour Welfare Fund Expenditure
In general the money in the Fund may be utilized by the Board to defray expenditure on the following:
Educational facilities for the children of the workers.
Medical facilities for both private and public-sector employers to facilitate medical facilities for their workers and their families.
Transport facilities to the workers for commuting to work.
Recreational facilities in the form of music, dance, drama, games, sports, paintings, etc. are usually offered to the employees to build a wholesome working environment.
Housing facilities under this scheme offer loans to industrial workers for constructing houses at concessional rates.
Excursions, tours and holiday homes.
Home industries and subsidiary occupations for women and unemployed persons.
Reading rooms and libraries.
Nutritious food to children of employees.
Labour Welfare Fund Deduction In Salary
An employee’s contribution rate is 0.2 percent of his or her pay or other remuneration, up to a maximum of Rs. 25/-. Employer contributions are equal to twice the amount given by the employee.
How To Calculate labour Welfare Fund In Salary
According to the government, if the gross income is higher than Rs 3000, the employee would receive Rs 2 from the labour Welfare Fund; otherwise, the employee will receive Rs 1.
If the employee’s gross income is higher than Rs 3000, the formula is If (Gross salary>3000,2, 1) i.e. If the employee’s gross salary is more than Rs 3000, the formula is If (Gross salary>3000,2, 1), i.e. If the employee’s gross salary is more than Rs 3000, the formula is If (Gross salary>3 (in Maharashtra)
How Can Workex Help?
Keeping up with compliance and Labour Welfare Fund is not an easy task.
So, how to handle it? That’s when payroll software comes in handy and with Workex, you get all the essential features of payroll software along with some additional perks.
Workex is a cloud-based payroll software where you get 100% accurate salary calculation and processing along with taking care of paid leaves, tax deductions, bonuses, and other payroll inputs. Your staff will receive correct payment on time, following which they can also easily download salary slips on our app for their records.
You can add your staff on our app in a matter of minutes using only your smartphone. Once you are done adding their stipend and bonuses, Workex will automatically track their attendance, leaves, shift timings, overtime and process their payroll. Your employees’ lives will also become easier as they will be able to mark their attendance on the Workex app with just a single tap on their smartphone.
We also assist with the compliance of Labour welfare funds in payroll computation according to state legislation, so you may avoid compliance issues and pay your employees accurately. We also provide performance reports for all of your employees based on their punctuality and attendance, allowing you to track the productivity of your team using our app. We also ensure that all of your legal and statutory obligations are met in a timely manner so that you do not incur any penalties or fines.
With the Pandemic of Covid-19, the global job market is witnessing a historic change. Remote working or work from home used to be a perk offered by some companies, but today it is the norm for many. Would I be able to work from home or must I report to a place of employment? This question has been on many people’s minds since the impact of the pandemic. In many countries around the world, people are forced to work from home due to quarantines, lockdowns, and self-imposed isolation, making work from home an unlikely workplace experiment.
The number of workers working remotely at least five days a month is expected to reach 70% by 2025. Even though 2020 may be considered the year of remote work, we see the trend continuing for a very long time. With the pandemic well underway, the limitations and benefits of remote work have become clearer. As economies begin to come back to life, many people are returning to work. However, most of them could not work remotely at all. Surveys have shown that hybrid models of remote work are here to stay for some employees.
Now that vaccines are on the horizon, the question remains: Will remote work survive? Our article explores how various types of work can be undertaken remotely.
The following are the top work from home jobs in India:
1) Content Writer
There are several different styles and approaches to content writing. There are many ways to write online, including articles, blogs, web pages, copywriting, product descriptions, poetry, and stories. If you’re good with words, this is the best option for part-time/full-time work from home jobs in India.
Content writers can earn money and work in many ways. The writing of technical articles and news is also a good option for working online.In recent years, a great deal of game writers and scriptwriters have gotten well-paying and well-recognized jobs.As far as work from home options go, you can count on them being plentiful in India. In India, you can expect to earn between 15k and 20k per year as a beginner.
2) Digital Marketer / Social Media Manager
The role of a digital marketer is to increase a company’s presence online by doing a number of tasks, such as SEO, email marketing, mobile marketing, and social media marketing.
Managing social media accounts for small, medium, and large companies is a growing field. There is a need for social media managers even for celebrities. This is a great way to get work from home jobs in India if you are looking for one. A social media manager is responsible for creating campaigns, promoting content, maintaining control over posted content, studying analytics, and striving to expand the brand’s reach. Your full-time job will be managing Facebook, Instagram, Twitter, Pinterest, and LinkedIn. Beginners in India can expect 20-40k.
3) Website developer
4) Graphic designer
Marketing is dominated by visuals these days. The visual appeal of a brand depends on its content, and graphic designers can provide appealing visuals for their websites, logos, pictures, or designs. In this field, you can easily earn 35K per month at an intermediate level, and there is no maximum income. Freelance work is an option for smaller projects.
It would be difficult to describe a better way to generate passive income. Whether you’re passionate about food, travel, fitness, fashion, gardening, or even philosophy, you should create your own blog. Using Instagram as a microblog platform is possible right now. You get an impressive amount of money. Blogs have become one of the best work from home jobs in India and people make a living off of them. Whether it’s something that interests you, satiates your conscience, or is trending online, fitness-related, or mental health-related, you can write about it.
6) Data Entry
Many people mistake this job as too easy, but it demands smooth and efficient handling of a large amount of information. To put it simply, the job entails entering data into a computer or into some type of secure file system. In these types of jobs, you can earn a decent income by charging per project or per hour. You can earn well in the market because there is no shortage of work.
Translating can be interesting and rewarding. It is necessary to know at least two languages ranging from English, Hindi, Tamil, and Marathi to Bengali, Malayalam etc. Businesses and authors needing content in a specific language can find opportunities from Indian and western companies. You can earn 30k per month in the first few months if you bag the right clients.
8) Online Tutor
Education is among the many benefits of Internet usage, including accessible, convenient, and affordable education. This is made possible by online tutors. Online tutoring is another work at home job that pays well. Online tutoring is an opportunity for skilled people or those who have mastered a specific area, e.g. digital marketing, cooking, contemporary dance, martial arts, stock market, etc. Depending on their authority and reputation, online tutors can earn up to 30k.
9) Travel Agent
Providing excellent service for their clients, freelance travel agents secure flights, travel packages, rail tickets, bus tickets, hotels and deal with more for their clients. Talented individuals who can convert travel packages are always in demand by top travel agencies. Business opportunities like this offer great compensation, along with perks such as holiday and family vacation deals.
10) Business Developer
A freelance business developer is a logical choice for the list of best job opportunities in India to work at home. The work is mainly about increasing revenues for a particular brand’s product or service. The job guarantees you interesting work and high salaries if you’re capable of doing that as an individual contributor. From the beginning itself, you can easily earn between 25 and 30k. Partnerships are most effective when brands appreciate the collaborative effort and are ready to work together for mutual success.
Find and apply to WFH jobs through Workex!
Our platform has a huge selection of best work-from-home jobs in India with new positions being posted every day. Registration and searching for jobs is a very easy process through our website or our mobile app. To get started with job searching, just register with your mobile number and start choosing your location, skills, and industry preference.
If you’re still unclear about how to create and update your resume in the app, you just have to insert all the information like education, skills, past experiences, etc. and it will automatically generate your resume.
No matter how long it lasts, remote working or work from home is here to stay. There will likely be some forms of remote work long after COVID-19 has been defeated. Investing in digital infrastructure, leaving office space vacant, and restructuring food services, real estate, and retail are some of the shifts that have to be made to achieve this. This article looks at the 10 best online jobs in India that pay well. Each of these jobs requires minimum skills and knowledge, which makes it suitable for everyone. No matter what your status is, whether you are a student, professional, homemaker, semi-skilled worker, or a dropout. With these work from home jobs, you can find a career you’d like to pursue from the comfort of your own home.
They say that love is more important than money. Have you ever tried to pay your employees payroll with hugs??
Funny isn’t it??
Payroll Management seems an easy task since it involves calculating hours worked, sending out paychecks, and updating records. For every business, whether small, medium, or large, payroll processing is a considerable expense and is accompanied with some serious payroll challenges as well. Thus ensuring that it is streamlined is essential. However, every organization encounters its unique set of payroll challenges when addressing payroll management.
What is payroll management?
Payroll management is the administration of financial reports relating to staff you are responsible for, such as remuneration, bonuses, deductions, and other financial records that should be audited regularly. Most of the time, the payroll management process involves a repetitive, irritating process that frequently results in mistakes. The process is made easier through the use of computers and software applications, which minimize the possibility of mistakes and thus avoiding some of the payroll challenges.
Here are a few setbacks and payroll challenges that HR industry encounters:
Payroll is a tedious and highly time-consuming process, even if a business has the right technology platform to process payroll successfully. As a result, a significant amount of time is spent calculating wages and deductions, not to mention dealing with garnishments and levies.
Manual Payroll Processing:
Many businesses choose to manage their payroll functions internally and manually to avoid any upfront investments in high-cost platforms. However, manually entering employee data/records and doing manual calculations make the payroll process prone to even more errors. Further, it gives rise to possible issues like duplication of records, which could lead to an employee being paid twice for the same payroll cycle and therefore can result in even bigger problems for the organization. Further, not using any form of technology platform results in process redundancies and inefficiencies which lead to wasted time and money, as well as frustrated staff members.
As soon as an employee starts a new job, the payroll department of the company must monitor the employee’s previous employment history so that the new employer can tax them correctly. When an employee leaves their previous workplace, their Full & Final Settlement provides the necessary tax calculation information. In the absence of that information, the employee must pay the difference when they file their tax return.
When an employee leaves their business, they are expected to provide payroll with the same proof documents so that the company can verify investment figures and calculate taxes. Furthermore, departing employees can’t take advantage of any tax benefits or exemptions without proof documents. As a result, they will be taxed on the standard rate.
Keeping Up with Regulatory Changes:
Payroll regulations are dynamic and are updated regularly. Since the Covid 19 pandemic, labor laws, and wage laws have been updated, which need to be kept in mind while doing the payroll. Payroll has become more susceptible to error and risk since COVID-19 came into effect, as new regulations impacted payroll, making payroll more vulnerable to error. By transforming pay, organizations can stay ahead of regulatory changes, audits, and compliance.
To avoid payroll issues that occur because of regulatory changes, business owners should always stay updated on any changes occurring in their particular state or on a federal level that may impact them.
Safety and Security Concerns:
Security is a major challenge when it comes to maintaining confidential employee information in cumbersome spreadsheets. Payroll frauds can be committed in various forms, such as false wages and commissions, faking injuries to claim insurance or having ghost employees. Manual payroll processing steps increases the chance of such data mishandling and leakage of information leading to multiple issues for businesses. These kinds of payroll issues especially happen when there are no internal controls or when employees have access to critical components of the payroll software.
Dependence on Multiple Payroll Input Sources:
Another common challenge in payroll management is the non-compatibility of payroll management software. For example, the software used for keeping employee records may be completely different from the one that you use for leave management, performance, or employee benefits.
Insufficient or excessive payments:
Individuals do not like to be underpaid for work—or asked to return money if they accidentally overpaid. If you don’t correct errors quickly, you will have to do time-consuming year-end processing or refunds the following year. Automation will minimize the chances of human error where manual data entry is involved. If an error is discovered, let the employee know as soon as possible, so they can correct it without undue hardship.
Businesses are vulnerable to payroll fraud, which may include employees falsifying their timecards or inputting lower-paying shifts. The best defense against fraud is using payroll software that helps you run reports across various departments and analyze data for suspicious trends.
New technologies make every process easier, including payroll processing, but companies are slow to adopt new technologies, which leads to the misallocation of funds destined for other planning and goals.
Management of Employees:
With the growing popularity of remote working, it is challenging to manage employees from different places. HR faces a lot of payroll challenges with keeping track of employees and managing attendance as well as keeping track of hours worked and other details. Payroll can be easily done with free software or cloud-based platforms if your company is just getting started. However, it becomes difficult as the business grows, so it’s better to adapt to new technologies like payroll outsourcing or even bringing in specialized payroll staff.
What is the solution?
Managing payroll in any organization can be challenging, but using an automated system is the best solution to the problem. Managing payroll involves a wide range of activities, which help an organization to maintain control over its most critical asset – its people. Done manually, or with outdated methods or spreadsheets, payroll becomes time-consuming, inaccurate, and complex. Payroll software or outsourcing makes payroll simpler. From getting payroll ready to close out the pay period, good payroll software keeps the process organized, easy, and efficient.
How Workex’s automated payroll software can help you overcome these challenges?
Manual calculation of Payroll is a tedious and time-consuming process. There is a great deal of attention & detail involved with everything from processing leaves to keeping track of overtime of each and every employee.
Whether you are seeking a better way to streamline payroll processing or are looking for a perfect partnering option, we’re here to help. Workex enables you to relieve a load of payroll administration by making the entire process enjoyable and easy.
Workex’s payroll management software eliminates payroll challenges and processing complications, and it delivers the following benefits:
Manage Attendance, Leaves & Overtime
Automatic Payroll Calculation
Dedicated Call & Chat Support
HR & Payroll Support
Statutory & Labour Compliance
Contact us to get more information about the same!
For the first time in history, there are 5 generations in the workforce today –
Traditionalists: born in 1945 and before.
Baby boomers: born between 1946 and 1964
Generation X: born between 1965 and 1976
Millennials: born between 1977 and 1995
Generation Z: born in 1996 and after.
It’s no surprise that millennials make up the majority of the workforce today. It’s not hard to see why they are the topic of most discussion among the world’s employers. But why do we need millennials?
Millennials, the first generation to grow up in the digital age and the generation that follows, are shaping the future. This generation grew up mostly with technology. Some of them grew up with it and the others learned it later on. They marked the biggest generational group in the workforce today. They are more socially and globally connected than any prior generation.
Aside from their sheer numbers, the millennial generation has many generational characteristics which make them an asset to companies. The millennial generation has different expectations from an employment experience. A millennial not only has good educational credentials but are also experienced in technology and enjoys working in teams rather than working as an individual. They are energetic and confident and have firm beliefs about their abilities. They always seek new challenges but do prioritize work-life balance. They also realize older colleagues may view them as weaknesses based on the demand for social interaction, immediate results in their work, and the desire for speedy advancement.
Millennial trademarks include:
As the most technologically advanced generation in history, millennials are capable of managing changes in their personal as well as professional lives. At the same time, businesses are challenged to adapt to technological change – in light of advances such as artificial intelligence and automated systems.
It’s not enough to be good
Constant disruption is a hallmark of the Millennial era, they are always looking for a better way. Because of this, this group won’t settle for anything less than improving things.
A large portion of the millennial population is also a regular consumer of information. Being immersed in information, primarily through social media, they are always on the lookout for the latest news and trends.
People from the Millennial generation have grown up in a global society and have experienced more global travel than previous generations. This means they have more insight into global cultures and ways of doing business.
What makes millennials different from the previous generations?
It has been widely observed how millennials differ from older generations in numerous ways.The Millennial generation is much more likely than the Boomers or Gen Xers to identify as being politically independent. According to millennials, businesses need to pay more attention to “people and purpose.” As innovators and resourceful individuals, Millennials can bring to the table better and faster ways of getting things done. They are capable of multi-tasking and can be very productive.
How to attract millennials towards a job role?
Invest more in technology and innovation
Millennials grew up with constantly changing technology, so they have become pretty comfortable doing things digitally. It would be hard for them to do things in an old-fashioned way.
The millennial generation desires more effective, two-way communication and collaboration where they feel valued. Recruiters should communicate with candidates timely and interactively, sharing feedback constantly to keep the candidates engaged.
Highlight growth prospects
The opportunity for career growth is one of the most important factors millennials look for when picking an organization. For those looking for a new job, advise them on the career paths available internally as well as how they can progress each step of the ladder.
Culture of trust, belonging, and helping build personal growth
The millennial generation wants to feel valued and trusted by the real people they work with. They are great team players and prefer to achieve success in teams and separate from them. In fact, they collaborate to create virtual communities and share their values and interests in creating a unique work environment from others. They seek organizations that cultivate a culture of trust and transparency.
Building meaning as part of your brand’s mission
Millennials understand the world around them more than any previous generations and are driven to make it better for as many people as possible. Their work is not only to benefit them but also for others. They want to make a genuine difference in their profession and to the world. Let them know the bigger picture of any work your company does, and let them see how it fits into the bigger picture.
Loosen up your policies
Millennials are not typical eight-hour desk workers who are not interested in working hard. They are usually not motivated by money and do not prioritize salary when considering a new opportunity. The main things that matter to them are perks and benefits that offer them freedom, autonomy, and work-life balance.
Millennials have set personal goals for themselves. Being able to cultivate new ideas and have freedom at work makes a big difference, as work satisfaction marks the generation as a whole and helping them encounter fulfillment as they reach their personal ambitions.
Here are some things that you should know about what the millennials really want!!
Millennials aspire for much higher goals in life than any other predecessor. They have set goals like buying a sports car at a certain age, they would like to fund an Ngo to make other people’s lives better, or simply to be a fashionista and for this money is an important factor. Money is one of the topmost priorities that the millennials look forward to before choosing an employer in order to chase their aspirations.
Flexible working conditions and remote work
As remote working is a common phenomenon these days and is going to stick around, employers must find new ways to stay connected with employees and definitely incorporate flexible working hours.”In fact, Deloitte’s research shows that Most millennials leave their jobs within two years, and only 28 percent plan to stay longer than five years. Among the ones who plan to stand, 55% want the flexibility to choose from where and when they want to work”.
Teamwork and appreciation
Teamwork is a millennial value more than any other generation and they prefer to work together to raise quality in their projects. Appreciation inspires them to do their best.
Digital technology and its collaborative power promise to create a better future for millennials and so employers have to develop digitally in line with their needs too.
For Millennials, the ideal work-life balance enables them to effectively contribute to their organization, and at the same time gives them the freedom to care for themselves and take care of life’s demands outside of work.
Employee engagement is enhanced through continuous feedback and suggestions. Millennials want to know how they are performing. Communicate openly with employees about their difficulties and where they can improve.
A major difference between the baby boom generation and millennials relates to the fact that the baby boomers were fiercely loyal to their employers. However, millennials often switch jobs, placing more importance on working with personal relationships rather than work. This is mainly because they get better career and development opportunities, meaningful career experiences, and better pay and benefits. You should give them every chance to prove themselves and enhance your company’s policies and benefits so that they will stay.
Engaging and recognizing the millennials in your organization is easy when you do the right things. You need to listen to your employees, outline clear development plans and pay raise opportunities, have a flexible schedule and location, and build a culture of excellence with strong values!