The correct option is 2 and 3 only.
Explanation
The Indian economy is classified into organised and unorganised sectors based on employment conditions and regulatory oversight. The organised sector comprises enterprises where the terms of employment are regular, and the establishment is subject to government supervision.
Statement-wise Analysis:
- Statement 1 is Incorrect: A defining characteristic of the organised sector is that the enterprises or places of work are registered by the government. Conversely, the unorganised sector consists of small, scattered units that operate largely outside government control and registration.
- Statement 2 is Correct: The organised sector is bound by formal rules and regulations. Establishments in this sector must strictly follow laws such as the Minimum Wages Act, the Factories Act, the Payment of Gratuity Act, and the Shops and Establishments Act.
- Statement 3 is Correct: Employees in the organised sector enjoy security of employment and regular work. They are entitled to benefits such as fixed working hours, overtime payment, paid leave, provident fund contributions, and medical facilities.
Key Takeaway:
The organised sector is distinguished by mandatory government registration, legal compliance with labour laws, and the provision of social security and job stability to workers.