Basic Difference between factories act 1948 & companies act 1956
CiteLegal
 
HOME RISE NEW ABOUT LOGIN
Home > Human Resource Section > Labor & Employee Relations

Basic Difference between factories act 1948 & companies act 1956

Anilgsharma Started The Discussion:

Dear All, can anybody let me know that what is the basic difference between factories act 1948 and companies act 1956. why the two different acts needed to form.

dmc123 - Member Since: Dec 2010
Factories Act 1948 is enacted to consolidate and amend the law regulating labour in the factories and the Companies Act 1956 necessarily provides for the formation of the company, its capital, directors and such other aspects of company as a legal entity, they are entirely two different statures.

Anurag Jain - Member Since: Mar 2007
The factory act governs the compensation and working environment part for the workers working therein; besides the companies act governs the organisational working; profit/loss reporting, investors interest protection, track the constitutional changes within the organisation etc.

ratikanta.cms - Member Since: Apr 2011
The Factories Act maintain Work environment, compensation & related Employee & his work environment But Companies Act is only related Management & Govt Rules, Regulations

prgsanjith - Member Since: Jul 2011
Factories act 1948 constitute to start functioning of factories.Its main objective to set up and establish industrial unit and control the factory process with sociatal benefits. Factories act established for the purpose of controlling process and establishing individual and social benefits from the factory.

Whereas Companies act 1956 constitute to form a company to run the business to attain the organisational objectives.

aksharma242 - Member Since: Jun 2010
Factories Act 1948 is concerned with legal requirements,rules and regulations which are required to be complied with for a manufacturing unit to funtion without violating any rules and regualtions.

Companies Act 1956 is concerned with formation,day to day running,winding up,board meetings,shareholers meetings,rules and regulations which are required to complied with by a business entity called company vis-a-vis other forms of business such as proprietorship,partnership,society,trust etc

Found This Useful? +Vote Up This Page Via Google.  

Why Vote? User validation is extremely important for good content to prosper.
Disclaimer: This network and the advice provided in good faith by our members only facilitates as a direction towards the actions necessary. The advice should be validated by proper consultation with a certified professional. The network or the members providing advice cannot be held liable for any consequences, under any circumstances.






Explore Topical Knowledge Areas

Interesting Relevant Discussions


DISCUSSSION STATISTICS


1
LIKES

2113
VIEWS

5
REPLIES

PLEASE KEEP YOUR CONDUCT PROFESSIONAL AND POLITE


3M Users, 100K+ Documents & 450K+ Discussions

Share »

Community Support & Professional Insights. Login or Register.
Email/Username     Password  

About Us - Advertise - Contact Us - RSS   On Google+  
All trademarks and copyrights held by respective owners. Member comments are owned by the poster.
Privacy Policy | Disclaimer | Terms Of Service
Facebook Page | Follow Us On Twitter | Linkedin Network