Question

Difference between organised stock market and unorganised stock market

Answer 1

Difference Between Organised and Unorganised Sector

February 3, 2016 By Surbhi S 4 Comments

Organized vs unorganized sectorSectors are majorly divided into three categories primary, secondary and tertiary. Based on the employment conditions these are further classified as an organised and unorganised sector. The organised sector is one that is incorporated with the appropriate authority or government and follow its rules and regulations. On the contrary, the unorganised sector can be understood as the sector, which is not incorporated with the government and thus, no rules are required to be followed.

 

While the former is related to business, government, industry involving large-scale operations, the latter include small scale operation, petty trade, private business, etc. There is a slight difference between organised and unorganised sector, which is explained in this article in detail. Have a look.

Content: Organised Sector Vs Unorganised Sector

Comparison Chart

Definition

Key Differences

Conclusion

Comparison Chart

BASIS FOR COMPARISON ORGANISED SECTOR UNORGANISED SECTOR

Meaning The sector in which the employment terms are fixed and employees have assured work is Organised sector. The sector that comprises of small scale emterprises or units and are not registered with the government.

Governed by Various acts like Factories Act, Bonus Act, PF Act, Minimum Wages Act etc. Not governed by any act.

Government rules Strictly followed Not followed

Remuneration Regular monthly salary. Daily wages

Job security Yes No

Working hours Fixed Not fixed

Overtime Workers are paid remuneration for overtime. No provision for overtime.

Salary of workers As prescribed by the government. Less than the salary prescribed by the government.

Contribution to Provident fund by the employer Yes No

Increment in salary Once in a while Rarely

Benefits and perquisites Employees get add-on benefits like medical facilities, pension, leave travel compensation, etc. Not provided