B.Com. (Financial Management) SEM III 2017 2018 Nov 2018 BUS. REGULATATORY FRAMWORK Question Paper - Mumbai University | munotes

Duration: Hrs Marks: 75 Marks
1 a) Choose the best answer. Answer any Eight questions 08
i. Which permanent settlement machinery has been mentioned in the act accountable for the
speedy and amicable settlement of industrial disputes?
a. Adjudication
b. Conciliation
c. Arbitration
d. Appropriate government
ii. means an interim or a final determination of any industrial dispute or of any
question relating thereto by any labour court
a. Banking Company
b. Closure
c. Award
d. Conciliation Proceeding
iii. What is the minimum number of trade union members requires in registering themselves as a
iv. Trade union means any combination formed primarily for the purpose of regulating the
a. Workmen and employers permanently
c. Workmen and employers, workmen and workmen, employers and employers, temporary
d. Workmen and employers, workmen and workmen, employers and employers,
v. As per the factories act, after how many years should the factory premises be painted and
a. 5 years
b. 2 years
c. 10 years
d. Annually
vi. Under this Act, employer shall not be liable to pay compensation in respect of any injury
which does not result in the total or partial disablement of the workman for a period exceeding
vii. Which of the following benefits have not been provided under the Employee’s State
a. Sickness Benefit
b. Unemployment Allowance
c. Children’s Allowance
d. Disablement Benefit
viii. What is the maximum wage period for the payment of wages?
b. 40 days
c. 45 days
d. 60 days
xi. What is the minimum amount of bonus paid to an employee?
x. What is the qualifying service to claim gratuity?
a. 15 years
c. 5 years
d. No such prescription
1.b) State true or false for the following. Answer any SEVEN questions
i. The industrial disputes act bill empowers the Conciliation to declare emergency if required, by
notification in the official Gazette. 07
ii. no settlement arrived at in the course of a conciliation proceeding shall be invalid by reason
only of the fact that such settlement was arrived at after the expiry of the period referred in sub
section (6) of section 12 or sub-section (5) of 13
iii. The act was enacted with the objective of providing for the registration of trade unions and
verification of the membership of trade unions registered so that they may acquire a legal and
iv. The registrar has the right to cancel the registration of the union if he is satisfied that the
certificate has been obtained by fraud or mistake
v. A young person between 15 to 18 years of age is not allowed to work on any dangerous
vi. If a company has 1000 number of employees, then the appointment of safety officer is
mandatory under the factories act
vii. As per the latest amendment under the ESI Act, 1948 medical treatment is now available to
persons under voluntary retirement scheme also
viii. Where the salary or wages of an employee exceeds 2500 rupees per month the bonus
payable as per section 10 of the act shall be calculated on 2500 rupees per month only
ix. Under the payment of Gratuity Act, 1972 the maximum gratuity payable is Rs. 5 lakhs
x. The present wage ceiling per month for the purpose of the Payment of Wages Act, 1936 is Rs
2.a) i. Discuss the object and scope of Industrial Dispute Act. (7)
ii. What is trade union? Explain the mode of registration of Trade Union. (8)
b) i. Difference between strike and lockout. (8)
ii. What are the object of the Trade Union Act.(7)
3.a) Explain the provision of safety and health under Factories Act. (15)
b) Define Occupier and duties of the occupier (7)
ii. Define Factory under Factories Act, 1948 (4)
iil. Define Hazardous processes under Factories Act, 1948.(4)
4. a) i. Difference between Partial Disablement and Total Disablement under Workmen
ii. What are the features of Payment of Wages Act? (7)
b) i. What are the provisions of the fixation of wages under the Payment of Wages Act,
5.(A) Write a short note on any three of the following (5*3=15)
a. Retrenchment
b. Public Utility of Services
c. Sickness Benefit under Employee State Insurance Act
d. Allocable Surplus
e. Set Off and Set On under Payment of Bonus Act
5.(B) (1) Explain circumstances in which Gratuity is payable. (8)
Explain remedy for unauthorised deduction under the Payment of Wages Act, 1936. (7)