Section 417 of company act 1956


This query is : Resolved 

(Querist)
30 May 2010 A private limited company collect security deposits from its employee . Does the company is require to complied with the section 417 of the company act 1956

Rasesh (Expert)
01 June 2010 Yes. The amount should be deposited in seperate account if it is as security deposit from employees.


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