Explain the difference between organised and unorganised sector of economy with example.

(i) Organized sector covers those enterprises or places of work where the terms of employment are regular and therefore, people have assured work. Whereas unorganized sector is characterized by small and scattered units which are largely outside the control of the government.

(ii) Organized sectors are registered by the government and have to follow its rules and regulations whereas in unorganized sector these are not followed.

(iii) Workers in the organized sector enjoy security of employment whereas employment is not secured in the unorganized sector.

(iv) Employees in the organized sector are expected to work only a fixed number of hours. If they work more, they have to be paid overtime by the employer whereas in unorganized sector jobs are low paid, working hours are not fixed and there is no provision for overtime.

(v) Employees in the organized sector get paid leave, payment during holidays, provident fund, gratuity etc. whereas there are no such facilities for the employees of the unorganized sector.