HAL Employees Welfare Fund

mportance of the above, under the able chairmanship of the late Sri. Bose, the Labour Welfare Fund was founded in the year 1953. The decision to carve a Welfare Fund in this giant corporate machinery for the singular factory worker, received excellent response and the Fund initially started with a seed capital made up of contributions by the employer with respect to the employees. In 1975, there was a proposal for the Registration of this Fund inorder to cater to the welfare and needs of the employees within all legal frameworks. Subsequently, the Fund was registered for all operations under the Finance and Audit (Registrar of societies) Act, by the managing committee members. Later in the year 1989, there were proposals for changes in the name of this Fund and on 31.12.1990, the name was changed to the EMPLOYEES WELFARE FUND [ registered under the Finance and Audit ( Registrar of Societies) Act ]. The initial employee beneficial activity of the EWF was to disburse Vouchers of Rs 150/- to its members for the purchase of clothes. With a strong hold on the initial vision coupled with dedication and integrity, today the EWF has proudly reached a point where it provides loans upto Rs 50,000/- to its employee members using the overdraft facility from the bank.