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.
From India, New Delhi
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From India, New Delhi
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The Factories Act of 1948 was enacted to consolidate and amend the law regulating labor in factories. The Companies Act of 1956, on the other hand, provides for the formation of a company, its capital, directors, and other aspects of the company as a legal entity. These two acts are entirely different statutes.
From India, Pune
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66From India, Pune
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The Factory Act governs the compensation and working environment for the workers working therein. Besides, the Companies Act governs the organizational workings, profit/loss reporting, investors' interest protection, and tracking the constitutional changes within the organization, etc.
From India, Jaipur
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From India, Jaipur
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The Factories Act maintain Work environment, compensation & related Employee & his work environment But Companies Act is only related Management & Govt Rules, Regulations
From India, Indore
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From India, Indore
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Factories Act 1948 constitutes the starting functioning of factories. Its main objective is to set up and establish industrial units and control the factory processes for societal benefits. The Factories Act was established for the purpose of controlling processes and deriving individual and social benefits from the factory.
On the other hand, the Companies Act 1956 constitutes the formation of a company to run the business and achieve organizational objectives.
From India, Madras
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On the other hand, the Companies Act 1956 constitutes the formation of a company to run the business and achieve organizational objectives.
From India, Madras
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The Factories Act of 1948 is concerned with legal requirements, rules, and regulations that must be complied with for a manufacturing unit to function without violating any rules and regulations.
The Companies Act of 1956 is concerned with the formation, day-to-day running, winding up, board meetings, shareholders' meetings, and rules and regulations that must be complied with by a business entity called a company vis-a-vis other forms of business such as proprietorship, partnership, society, trust, etc.
From India
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The Companies Act of 1956 is concerned with the formation, day-to-day running, winding up, board meetings, shareholders' meetings, and rules and regulations that must be complied with by a business entity called a company vis-a-vis other forms of business such as proprietorship, partnership, society, trust, etc.
From India
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FACTORIES ACT NOISE REGULATIONS 1997.pdf
Factories Act.doc