Section 12(3) of the Industrial Disputes Act, for Bonus, is also a settlement signed as mentioned above, before the Conciliation Officer, after a conciliation proceedings initiated. All the workmen and the Management are bound by the terms and conditions / clauses of settlement for Payment of Bonus for the year (s) mentioned.
Section 18(1) of the Industrial Disputes Act, is a settlement entered into between the parties, directly. If the settlement is between the Management and a single workmen (One workmen who is party to the settlement under Section 2(A) of the ID Act ) The clauses of the settlement is binding on this single workmen who is party to the settlement and the Management),
or a settlement is between a group of workmen (having dispute under Section 2(K) of the Industrial Disputes Act) and the Management. Here the clause/terms of the settlement is binding between the group of workmen who are parties / signatory to the settlement, and the Management.
25th June 2019 From India, Madras
As an addendum to the answer of our learned friend Mr.Babu Alexander, I would like to state that a manager handling industrial relations should be thorough with the various provisions of the Industrial Disputes Act,1947 and the relevant Rules framed thereunder. In nutshell, collective bargaining is the technique most preferred by the ID Act,1947 to achieve its objectives of prevention as well as resolution of industrial disputes. That's why compulsory provisions for espousal of disputes other than the non-employment of any individual workman by trade unions or a body of workmen,formation of works committee and grievance settlement committee, appointment of area wise/industry wise Conciliation Officers, constitution of Boards of Conciliation, recognition of protected workman status to office bearers of registered trade unions, classification of services into public utility services and non public utility services, restrictions on change in certain service conditions,strikes and lock outs, lay off, retrenchment or closure, transfer of undertakings have been elaborately provided under the various distinct chapters of the Act. Even in the process of adjudication, certain restrictions on representation of parties are introduced to avoid protracted litigation. In this back drop, if you try to understand the queries with reference to the definition clauses, things would be easier.
11th July 2019 From India, Salem