Section 24 in Punjab Contract Labour (Regulation and Abolition) Rules, 1973
24. Security.
(1)Before a licence is issued, an amount calculated at the rate of [Rs. 90] [Substituted for 'Rs. 30' vide Punjab Government Gazette Legislative Supplement Part III, dated 22.6.1990.] for each of the workmen to be employed as contract labour, in respect of which the application for licence has been made, shall be deposited by the contractor for due performance of the conditions of the licence and compliance with the provisions of the Act or the rules made thereunder.[Provided that where the contractor is a co-operative society, the amount deposited as security shall be at the rate of five rupees for each of the workmen to be employed as contract labour.] [Proviso added vide Punjab Government Gazette Legislative Supplement Part III, dated 7.5.1976.](1A)[ Where the applicant for the licence was holding a licence in regard to another work and that licence has expired, the Licensing Officer, if he is of the view that any amount out of the security deposited in respect of the licence is to be directed to be refunded to the applicant under rule 31, may on an application made for that purpose in form VA by the applicant, adjust the amount to be so refunded towards the security required to be deposited in respect of the application for a new licence and the applicant need deposit in such a case, only the balance amount, if any, after making such adjustments.] [Added by Punjab Government Notification No. GSR No. 45/CA37/70/S.35/Amd.(3)/80 dated 2-5-1980.](2)[ The amount of security deposit or the balance amount required to be deposited under sub-rule (1) or under sub-rule (1A) as the case may be] [Substituted for the words 'The amount of security deposit' by Punjab Government Notification No. GSR No. 45/CA37/70/S.35/Amd.(3)/80 dated 2-5-1980.] shall be paid in the local treasury under the head of Account to be notified by Government in the Official Gazette.
