Unilever, BASF contribute Tk 54.6m to workers’ welfare fund

FT ONLINE

Two companies, Unilever Bangladesh Ltd and BASF Bangladesh Ltd, abiding by the amended labour law,  have contributed Tk 54.6 million to the Bangladesh Workers' Welfare Foundation Fund.

Unilever and BASF handed over cheques worth Tk 53.43 million for the calendar year 2017 and Tk 1.16 million for the fiscal year of 2017-18 respectively to this effect to state minister for labour Mujibul Haque at his office at the Secretariat in the capitaL.

Under the amended labour law, profit-making companies have to contribute 5.0 per cent of their net profits to their participatory welfare funds as well as the government-formed workers’ welfare fund. The ratio of the contribution is 80:10:10.

Labour secretary Afroza Khan, Unilever general manager MM Zillur Rahman, BASF chief finance officer Masud bin Mazid, among others, were present at the cheque hand over programme.

So far 115 local and multinational companies have contributed a certain part of their profit to the Fund and the total amount stood more than TK 3.10 billion.

Workers of both formal and informal sectors received financial assistance worth Tk 240 million from the Fund for death, disability, disease caused by industrial accidents and educational support for their children.