Dear Prashanth,
Probably your question is about the difference between settlements signed u/s 12(3) and se 18(1) of the I.D Act,1947!
1) (a)When an industrial dispute is amicably settled through direct negotiations between the Employer and Employees, a settlement will be signed under ss(1) of Se 18 of the Act by the Employer or his authorised representative and the concerned workman in case of an individual dispute or the authorized representatives of the workmen in the case of a collective dispute together with the signatures of witnesses on either side, it is called as a bipartite settlement or 18(1) settlement.
(b)When an industrial dispute is settled through the conciliation proceedings initiated by a conciliation officer u/s 12(1) of the Act, a settlement will be signed by the authorized representatives of both sides with the counter-signature of the conciliation officer under ss(3) of Se 12 of the Act, it is called as a tripartite settlement or 12(3) settlement.
2) (a)In the case of 18(1) settlement, copies should be jointly sent by the parties to the Central Govt, Chief Labor Commr,theR.L.C and A.L.C, if the Central Govt is the Appropriate Govt whereas if the State Govt is the App.Govt, to the State Govt.,the State Labor Commr and the Conciliation Officer for the area.
(b) In the case of a 12(3) settlement,a report together with copies of the settlement will be submitted to the State Govt.and the Commr of Labor by the Conciliation Officer.
3) An 18(1) settlement will be binding upon only the signatories to the settlement whereas a 12(3) settlement ill not only bind the signatories but also the future employer n employees of the estt during its currency.So the latter stands on a higher pedestal.