Welfare and Compensation Fund

A Welfare and Compensation Fund is a financial resource established by a workforce or industry to support workers’ well-being and provide financial protection in case of injuries or illnesses related to their job. Contributions from employers or members fund this pool, which is used to offer benefits like healthcare, workers’ compensation, or emergency assistance. Essentially, it acts as a safety net, ensuring workers receive support during times of need due to work-related issues, promoting health, security, and fair treatment within the industry or organization.