An Overview Of Changing Labour Legislations On Shop-Floor Relations For Competitive Advantage

India has developing economy where the economic progress is directly proportional to the industrial growth, which in turn is dependent mainly upon the relation between the employer and the employee. Industrialisation poses a challenge for an entrepreneur in the form of management of the resources. The management and effective and efficient deployment of the resources of the organisation is the factor which decides the profitability, sustainability and viability of any organization. Labour is one of the basic resources of factors of production any industry and has an important bearing on the performance and goals of the organisation. This relation is regulated by the labour laws, which mainly constitute protective and beneficial legislation among all the parties concerned. These laws govern the day-to-day practices, procedures, relations, rights and obligations of employers and employees. The first of the Indian labour laws were enacted by the British Colonial Government and are still more or less the same. Some of the provisions which were enacted a hundred years ago have no relevance today. For the effective and efficient management of labour in an industry or an organisation it is necessary to have a complete knowledge of the Laws, bye laws, regulations and ordinances applicable to the industry in general and to the company or organisation specifically. The laws and bye laws applicable to labour issues and interests provides for various compliances in accordance with procedures laid therein. This paper is an attempt to understand the need of change in these laws in order to give way to the progress and development of certain industries, and provides a brief insight into the Laws, bye laws, Regulations, notifications applicable to labour and labour issues. “Labor is prior to, and independent of, capital. Capital is only the fruit of labor, and could never have existed if labor had not first existed. Labor is the superior of capital, and deserves much the higher consideration”, said Abraham Lincoln.