Question

List out some social security schemes for labour welfare and it's importance

Answer 1

Answer:

Employees' Provident Fund Organisation

It runs three social security schemes for workers and employees in India. ... The contributions go towards three social security schemes: the mandatory provident fund, a pension scheme and a disability and life insurance.

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Answer 2

Minimum wage requirements, notice period requirements, etc are some social security schemes for labor welfare.

Explanation:

1. Some social security schemes for labor welfare are minimum wage requirements, serving the notice period, etc.
2. These social security schemes are very common and many labor unions work toward creating awareness for these.
3. Social security schemes are very important as these ensure that the labor class is not harassed by employers.
4. These schemes are also important for improving the standard of life of these workers.