Modern History Simplified: Industry Disputes Act 1947

Industry Disputes Act 1947
  1. It applies to the organised sector.
  2. Settlement of Industrial disputes by the mechanism of Conciliation, Arbitration and Adjudication
  3. Firms employing 100 or more employees should obtain permission from layoffs, retrenchment and closure. 
  4. Payment of compensation to the workman on account of closure or lay off or retrenchment.

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