A trade union is an organization of workers that aims to achieve common goals like better working conditions and fair pay. The Trade Union Act of 1926 established registration and verification processes for trade unions to acquire legal status. Principles guiding trade unions include the doctrines of vested interest, supply and demand, living wages, partnership, and socialism. The main functions of trade unions are building membership and finances, handling economic and pay issues, providing welfare benefits, engaging in legal processes, and participating in politics.

1. Trade Union
A trade union is an organization of
workers who are banded together in
order to achieve a common goal
such as better working conditions or
fairer pay.

2. Trade Union Act, 1926
Objective:
• Providing for the registration of trade unions
• Verification of the membership of trade
unions registered so that they may acquire a
legal and corporate status.

3. Principles to Govern Trade Union
• Doctrine of vested interest: It states that wages and
other conditions of employment should not be
mixed with work.
• Doctrine of supply and demand: It holds that
collective action on the part of workers enables the
attainment of their objectives.
• Doctrine of living wages: It talks empowering
workers to demand living wages.
• Doctrine of partnership: This doctrine accepts
workers as partners.
• Doctrine of socialism: It implies that every worker
has a right to work and leisure, maintenance in old
age, sickness and equal pay for equal work.

4. Function of Trade Union
• The functions of trade unions can be classified into:
1. The basic function of trade unions is to build their
organizations, both numerically and financially.
2. Economic function- essentially implies bread and butter
functions.
3. Welfare function: Trade unions should shoulder social
responsibilities.
4. Legal Function : Trade unions closely associate themselves
with the law- making process, interpretation of laws, and
providing information about the various for the benefit of
their members.
5. Political functions: Trade unions kept themselves abreast
of the political events.