Object And Significance Of The Act
The object and significance of the Act were to make provision for the investigation and settlement of industrial disputes. And for certain other purposes. It ensures progress of industry by bringing about harmony and cordial relationship between the employers and employees. Definitions of the terms ‘industrial dispute, industry and the workmen’ under the Act, carry particular meanings. Also, provide the framework for the application of the Act.
This Act extends to the whole of India. Hence, the Act was designed to provide a self-contained code to compel the parties to resort to industrial arbitration for the resolution of existing or apprehended disputes without prescribing statutory with improved industrial relations reflecting and imbibing socio-economic justice. Also, this being the object of the Act, the Court by the interpretative process must strive to reduce the field of conflict and expand the area of agreement and show its preference for
Thus, upholding agreements consensus in larger public interest sanctified by mutuality and namely, to eschew industrial strife and consequent wastage confrontation.
The Act applies to an existing and not to a dead industry. It is to ensure fair wages and to prevent disputes so that production might not adversely affects. It applies to all industries irrespective of religion or caste of parties. Thus, it applies to the industries owned by Central and State Governments too.
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