American life insurance company Metlife has contributed Tk 12.21 million to the Bangladesh Workers' Welfare Foundation.
M Ala Uddin Ahmed, chief financial officer of the Metlife Bangladesh, on Thursday handed over the money in cheque for the calendar year 2017 to State Minister for Labour Mujibul Haque at the latter’s office at the Secretariat in Dhaka city.
Under the amended labour law, profit-making companies have to contribute five 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 respectively.
Acting labour secretary Afroza Khan, among others, was present at the cheque hand-over event.
So far, 95 local and multinational companies have contributed a certain part of their profits to the Fund and the total amount stood at more than TK2.50 billion.
Workers of both formal and informal sectors receive financial assistance from the Fund for death, disability, disease caused by industrial accidents and educational support for their children.
