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Section 417 of company act 1956

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(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
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Rasesh

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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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