EMPLOYEE WELFARE MEASURES IN MINING INDUSTRY – A STUDY WITH REFERENCE TO STATUTORY WELFARE MEASURES

Author Name: 1. M. Gangadhar 2. Ch. Sarada

Volume/Issue: 02/11

Country: India

DOI NO.: 08.2020-25662434 DOI Link: https://www.doi-ds.org/doilink/05.2022-32637292/UIJIR

Affiliation:

1. Professor, Department of Commerce, Osmania University, Hyderabad, India
2. Research Scholar, Department of Commerce, Osmania University, Hyderabad, India

ABSTRACT

In the economic development of a country, minerals play a significant role. Minerals constitute the backbone of the industrial economy of the country and the prosperity of any country is directly related to its minerals wealth and their judicious utilization. Mining industry is playing a significant role in the overall economic development of India. Employee or labour welfare is a comprehensive term including various services, benefits and facilities offered to employees of the organization. Employee welfare activities are those, which include proper working conditions provided to the workers by the employer on a voluntary basis. An employee who feels appreciated will further be comfortable, satisfied and more prolific. It has leads not only towards higher productivity but also improves the quality of performance which helps to capture the market share which is profitable for the company. A satisfied employee will not look into for other job opportunities and it enables an employer to keep the best talents and record lower employee turnover. Welfare includes anything that is done for the comfort and improvement of employees and is facilitated with over and above the wages. The provision of welfare measures helps in keeping the morale and motivation of the employees high to retain the employees for a longer duration. The welfare measures need not be in monetary terms only, it can also be in any forms. Employee welfare includes monitoring of working conditions, creation of industrial harmony through infrastructure for health, industrial relations and insurance against disease, accident and unemployment for the workers and their families. Employee welfare is a comprehensive term including various services, facilities and amenities provided to employees for their betterment. Welfare measures are something that is available to employees in addition to regular wages and other economic benefits under legal provisions and collective bargaining.

Key words: Welfare Measures, Employees, Statutory Welfare Measures