Welfare Fund Contribution (Rules 20, 21)

  • Contribution Rates (Effective February 2024):
    • Employees with higher pay: For employees with a Gross Pay / Consolidated Pay / Commission of ₹15,000 or above, the welfare fund contribution is fixed at ₹250.
    • Employees with lower pay: For employees with a Gross Pay / Consolidated Pay / Commission below ₹15,000, the welfare fund contribution is fixed at ₹150.
    • Institution’s Contribution: The employer/institution contribution for both categories of employees is fixed at ₹150.

 

  • Remittance Deadline: The welfare board contribution, collected from the employees’ salary at the rates determined by the Board from time to time, must be deposited into the Board’s account along with the institution’s contribution within 5 days from the salary was disbursed. The details of this remittance must be recorded and maintained by the institution in a special register (Annexure III).

Remittance Procedure and Documentation

  • Submission of Statement: The Annexure IV statement(contribution remittance statement) along with chalan receipt (both in prescribed format) must be submitted at any branch of kerala state co-operative bank. In Annexure IV statement, employee name, code number and monthly contribution must be record clearly.

 

  • Regional Office Notification: Out of the two copies of Annexure IV received back from the bank, one copy—which clearly displays the branch manager’s signature, “Cash Received” seal, challan number, and date—must be sent directly by the institution to the Regional Office of the Board.

 

  • Challan Copy: A copy of the pay-in slip (challan receipt) must also be sent along with the Annexure IV statement.

 

  • Account Crediting: The contribution will be credited to the respective employee’s account only after both this statement and the challan receipt are received by the Board.

Leave and Welfare Benefits

  • Continuity During Leave: Employees must not default on their welfare fund contributions, regardless of the type of leave they are on.

 

  • Eligibility for Benefits: The Board provides various welfare benefits to employees who remit their contributions continuously without any default.

 

Application Forms