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Walton Hi-Tech Industries PLC, country’s superbrand and leading electronics manufacturer, has paid around Tk 3.93 crore to the Bangladesh Worker’s Welfare Foundation under the Labour and Employment ministry from the profit of the company’s financial year 2022-23.
A nine-member delegation of Walton, led by its Additional Managing Director Nazrul Islam Sarkar, has handed over a cheque to State Minister for Labour and Employment Md Nazrul Islam Chowdhury at a programme held at the Bangladesh secretariat in Dhaka on Thursday, according to a press release.
The programme was attended, among others, by Labour and Employment Secretary Md Mahbub Hossain, Walton Hi-Tech’s Deputy Managing Director Yousuf Ali, Senior Executive Directors Sharif Harunur Rashid and Sadekur Rahman, Additional Executive Director Hafiz Ullah and Deputy Operative Director Minhaj Uddin.
According to the Labour Act, each company has to pay five percent of the net profit of the previous year at the proportion of 80:10:10 respectively to the Participatory Fund, Welfare Fund and Workers Welfare Foundation Fund following the Bangladesh Workers Welfare Foundation Act.
In continuation of this contribution, each of the Walton employees received Tk 19,838 in FY2022-23 from the profit share fund. Of that amount, each of them got Tk 11,903 instantly and rest of the money is retained to the WPPF, adds the release.
From of the total amount of Tk 39,36,54,464 of the Walton Hi-tech’s WPPF, Walton paid Tk 393,65,446 to the Bangladesh Worker’s Welfare Foundation Fund.
