Walton Hi-Tech Industries PLC, a electronics manufacturer, has contributed approximately Tk 3.93 crore to the Bangladesh Workers Welfare Foundation.
This payment comes from the company's profits for the financial year 2022-23.
In a formal ceremony held at the Bangladesh Secretariat, a nine-member Walton delegation, led by Additional Managing Director Nazrul Islam Sarkar, presented a cheque to State Minister for Labour and Employment Md. Nazrul Islam Chowdhury, reads a press release.
Under the Labour Act, companies are required to allocate 5 percent of their net profits from the previous year to the Participatory Fund, Welfare Fund, and Workers Welfare Foundation Fund in an 80:10:10 ratio.
Following this regulation, Walton distributed Tk 39,36,54,464 to its Workers Profit Participation Fund (WPPF) for FY 2022-23.
Each Walton employee received Tk 19,838 from the profit share fund, with Tk 11,903 disbursed immediately and the remainder retained in the WPPF. Out of the total WPPF amount, Tk 3,93,65,446 was paid to the Bangladesh Workers Welfare Foundation Fund.