Labour Cost per Manday Worked

Labour cost is one of the most significant factors for studying the economic viability of any industrial activity for an entrepreneur before venturing into the industrial field. It helps in reliable costing, wage fixation on a realistic basis, logical collective bargaining, evolving implementation and evaluation of welfare measures, study of trends over a period of time, location of industry, etc. Labour Cost data are also important for policy formulation at the national and regional levels. With this end in view, data on various aspects of labour cost are collected every year, which inter-alia, include the expenses incurred by the industrial establishments on wages/salaries, bonus, contributions to provident and other funds, and staff welfare expenses in respect of workers employed directly or through contractors. When used in conjunction with the number of mandays worked, the labour cost gives the average labour cost per manday worked.
Data contains Labour Cost per Manday Worked across various sectors i.e Agricultural, Mining, Manufacturing.