The Bus Industry Employees Welfare Fund was set up by an Act of Parliament on 11 November 2002 and was proclaimed by the President of the Republic on 01 November 2003. It
came in operation to promote the welfare of employees of the bus industry and their families.
2. Objectives of the Fund
The objectives of the Fund shall be to do all such things as appear requisite and advantageous for, or in connection with the advancement and promotion of the welfare of the employee and their
families and in particular: -
to manage and optimize the financial and other resources of the Fund to further the social and economic welfare of the employees of the bus industry and their families
to develop schemes, including loan schemes and other form of financial assistance, and projects for the welfare of the employees of the bus industry and their families; and
to do all such things as appear to be necessary and conductive to the promotion of the welfare of the employee of the bus industry, in general.
3. Contribution by employees and employers of bus industry
For the purpose of the BIEWF Act, every bus operator and every employee, other than a retired employee must make a monthly contribution to the Fund according to the rates
prescribed in the first schedule, which is as follows: