Workers from which of the following sector enjoys "Social security benefits"?
Answer & explanation
Correct answer: option 2
We classify workforce into two categories: workers in formal and informal sectors, which are also referred to as organized and unorganized sectors. All the public sector establishments and those private sector establishments which employ 10 hired workers or more are called formal sector establishments and those who work in such establishments are formal sector workers. All other enterprises and workers form the informal sector. Those who are working in the formal sector enjoy social security benefits. They earn more than those in the informal sector.