Labyrinth seals, types are many and varied.
Fixed, by means of spigot locating to the bearing housing.
This is the most ineffective, often has a larger gap at the top of the shaft. Adjsutable, these are loose spigot fitted and loose bolted, they are minimal clearance to the shaft as small as 0.008 per side.
Floating, as used in the DIN standard bearings, (Renk) the seal is light weight plastic type materials (Ryton or Peek)
These typically only have 0.002 to 0.004 total clearance. They are not bolted to the housing but retained in a locating groove with a garter spring and anti rotation pin. Most seals are made of a soft forgiving materials to prevent shaft wear in the event of bearing failures.