The system of collective bargaining as a method of settlement of industrial disputes has been adopted and provided under

The correct option is The Industrial Disputes Act, 1947

Key Pointscollective bargaining

• The term collective bargaining was first used in 1891 by Beatrice Webb
• Webb's definition emphasizes the importance of collective action on the part of workers in establishing and negotiating a formal agreement.

Important Points

•  Collective bargaining is the process of negotiation between employers and groups of employees aimed at an agreement to regulate working salary, working conditions, and compensation and rights.
• The result of collective bargaining is  called collective bargaining agreement 
• The process takes place between the company, management, and labor union
• the aim of collective bargaining come up with collective bargaining contract or agreement 
• There are several types of collective bargaining it including

1. Composite bargaining
2. Concessionary baragaing 
3. Distributive bargaining
4. Integrative bargaining
5. Productivity bargaining

Hence the correct answer is The Industrial Disputes Act, 1947.