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[Cites 0, Cited by 0] [Section 7] [Entire Act]

Union of India - Subsection

Section 7(1) in The Additional Emoluments (Compulsory Deposit) Act, 1974

(1)Every amount credited under section 6, in relation to an employee in a Deposit Account, shall carry simple interest at a rate, which shall be two and a half per cent. over and above the bank deposit rate.