Delhi: Real estate developers need to pay higher labour cess
The labour department has revised the formula for the cess calculation that was earlier done as per construction cost in 2006
Real estate developers and construction agencies in Delhi will now have to pay higher amount of labour cess as the city government has decided to revise the formula for its calculation.
The labour department has revised the formula for the cess calculation that was earlier done as per construction cost in 2006. Now, the labour cess will be hiked as it is being calculated as per the latest construction cost fixed by the Central Public Works Department in 2021.
The labour cess is collected by the government as one percent of cost of construction projects worth ₹10 lakh and above. The cess fund is spent on various welfare schemes for construction and other workers registered with the labour department.
Using the fund, the Delhi government had provided ₹5,000 per construction worker as subsistence grant during the COVID-19 pandemic.
The labour department through the Delhi Building And Other Construction Workers Welfare Board runs various schemes for the registered workers. The schemes include financial grant to kin of a registered worker in case of death, disability pension, funeral expense, maternity benefit, financial assistance for education and marriage of children, among others.
Catch all the Business News , Breaking News Events and Latest News Updates on Live Mint. Download The Mint News App to get Daily Market Updates.
MoreLess
First Published:7 Apr 2022, 08:22 AM IST
- Top Gainers
- Top Losers
- 52 Week High