Correct option is C
Labour laws related to social security provide financial support and protection to workers in cases of injury, disability, retirement, or health issues. The three laws that primarily provide social security are:
The Employees’ State Insurance Act, 1948 (ESI Act)
This Act provides healthcare and financial security to employees in cases of sickness, maternity, disability, or work-related injuries.
The Employees’ State Insurance Corporation (ESIC) ensures medical care, cash benefits, and pension support to workers and their families.
The Payment of Gratuity Act, 1972
This Act provides a lump sum payment to employees upon retirement, resignation, or death (if they have worked for at least five years).
Gratuity serves as a financial security measure for employees after they leave employment.
The Workmen’s Compensation Act, 1923
This Act ensures compensation to workers and their families in case of death or disability due to work-related accidents.
Employers are liable to compensate workers based on the nature and severity of the injury.
Thus, these three laws focus on financial and medical support, which are key components of social security.
Information Booster:
Importance of Social Security Laws for Workers
These laws protect employees from financial hardship in cases of illness, disability, workplace injuries, and retirement.
They create a support system for workers and their families, ensuring they receive medical care and compensation.
Benefits Under Each Act:
ESI Act, 1948: Provides medical care, cash benefits, maternity benefits, disability benefits, and dependent pensions.
Payment of Gratuity Act, 1972: Ensures employees receive a one-time payment upon retirement or resignation.
Workmen’s Compensation Act, 1923: Provides financial relief to workers and families in case of injury or death due to work-related causes.
Additional Knowledge:
The Industrial Disputes Act, 1947 (Option B – Incorrect)
This Act does not provide social security but instead deals with labour disputes, strikes, layoffs, and retrenchment.
It ensures that disputes between employers and employees are settled fairly.
The Companies Act, 2013 (Option E – Incorrect)
This Act regulates company formation, corporate governance, and compliance requirements.
It focuses on businesses and their stakeholders rather than employee welfare and social security.
Why These Are Not Social Security Laws?
Industrial Disputes Act is about conflict resolution, not financial protection for employees.
Companies Act is about corporate governance, not about ensuring employee benefits like health insurance, compensation, or pensions.
English
10 Questions
20 Marks
12 Mins
