Jewelry can be considered handcrafted if at any time in its production process hand labor was employed. In fact almost anything can be called handcrafted. There is no legal definition. Handcrafted jewelry is generally made up of cast or machine made components and hand assembled. In most cases this requires considerable less skill, effort and time.
To be called handmade the jewelry must be entirely hand shaped and formed from the raw materials used. Quite simply in order to be described as handmade the metals must be manipulated by handwork only.