This study intends to raise awareness about the issues related to child labor in the formal and informal industry in Bangladesh. Child labor is now a global concern and as such involved devotion of people in various sectors. It tries to present the socioeconomic scenario of child labor in Bangladesh which has in recent times attracted concerted attention not only in Bangladesh but also all over the world. Child labor problem is a socioeconomic reality in the country which can't be ignored. Hereafter steps have to be taken at first to decrease child labor gradually rather removing it completely from the society. This study also focuses on the trend, impact and legislation of child labor in Bangladesh and this study is also an attempt to search out the ways by which child labor can be decreased gradually and at the end of the article these ways have been presented as recommendations.