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What is meant by security deposit?

Security deposit is the amount to be deposited by a contractor for due performance of the conditions of the license and compliance with the provisions of the Act and the rules made thereunder. Security deposit is refundable. Rules 24 & 31

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LK Nakashe Consultants Pvt. Ltd is India’s leading compliance & labour law consulting firm. Headquartered in Mumbai, we are ISO 9001 Certified & Crisil Certified, and we serve all 29 states and 7 union territories of India. Our service bouquet includes Registration & Renewal Services, End-to-End Monthly Compliance Services, Audit & Due Diligence Services, Advisory & Consulting Services, Payroll Management Services and Contract Staffing Services. Our client list of 750+ companies includes some of India’s biggest business conglomerates, MNCs, public listed companies & SMEs

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