BASIC TERMS WITH DIFFERENCE

WARRANTY A warranty is usually a

written guarantee for a product and declares the maker’s responsibility to repair or replace a defective product or its parts. 

 warrantee is the person to whom a warranty is made and guarantee is one who makes a guaranty.

GUARANTEE . A guarantee is an agreement

assuming responsibility to perform, execute, or complete something and offering security for that agreement.

 A guaranty is an undertaking or promise that is the answer to or payment for a debt or default. A guaranty is also something given or held as security until a debt is paid or the performance of a duty is fulfilled. 

BASIS FOR COMPARISON

ORGANISED SECTOR

UNORGANISED SECTOR

Meaning

The sector in which the employment terms are fixed and employees have assured work is Organised sector.

The sector that comprises of small scale enterprises or units and are not registered with the government.

Governed by

Various acts like Factories Act, Bonus Act, PF Act, Minimum Wages Act etc.

Not governed by any act.

Government rules Strictly followed Not followed

Remuneration Regular monthly salary. Daily wages

Job security Yes NoWorking hours Fixed Not fixed