In Hindu religion, joint family business, a particular form of business organization is found only in India which is considered as one of the oldest forms of business organization in the country. It refers to the type of organization in which the business is owned and managed by members of the Hindu Undivided Family (HUF).
(03-11-2014, 11:54 PM)Guest Wrote: 1.introduction to joint hindu family an affectionate business
2.AIMS AND OBJECTIVES
3.NEED AND SIGNIFICANCE
4.PRESENTATION OF DATA/CASE STUDY REGARDING JOINT HINDU FAMILY BUSINESS.
5.OPINION AND SUGGESTION RELATED TO JOINT HINDU FAMILY BUSINESS FIRM
6.CONCLUSION.
A common family or an undivided family is a widespread family arrangement prevalent throughout the Indian subcontinent, particularly in India, which consists of many generations living in the same household, all bound by the common relationship.
Historically, for generations India had a prevailing tradition of the common family system or the undivided family. The system is an extended family arrangement that prevails throughout the Indian subcontinent, particularly in India, which consists of many generations living in the same household, all of which are united by the common relationship. A common patrilineal family consists of an older man and his wife, their sons and daughters, and their grandchildren of their sons and daughters.
The family is headed by an older person called Karta, usually the oldest man, who makes decisions on economic and social affairs on behalf of the whole family. The patriarch's wife usually exercises control over the house and minor religious practices and often exerts considerable influence on domestic affairs. Family income flows into a common pool, from which resources are drawn to meet the needs of all members, who are regulated by heads of households. However, with urbanization and economic development, India has witnessed a rupture of the traditional common family in more nuclear families, and the traditional common family in India accounted for a small number of Indian households.