The correct option is "2 only." The first statement regarding the Factories Act, 1881 is incorrect, as this legislation primarily focused on regulating working conditions, such as hours of work and safety, rather than fixing wages or allowing the formation of trade unions. The second statement is correct; N. M. Lokhande played a crucial role in the early labor movement in India, advocating for workers' rights and the establishment of trade unions, thus laying the foundational framework for labor activism in British India. This distinction highlights the broader historical context of labor rights in colonial India, which is essential for understanding the evolution of labor laws and movements in the pre-independence era, a relevant topic for UPSC aspirants.