Contract Labor (Regulation and Abolition) Act, 1970
(1) Before a license is issued, an amount calculated at the rate of 6[Rs. 90] for each of the workman to be employed as contract labor, in respect of which the application for license has been made, shall be deposited by the contractor for due performance of the conditions of the license and compliance with the provisions of the Act or the rules made there under:
7[PROVIDED that where the contractor is a Co-operative Society, the amount deposited as security shall be at the rate of 6[Rs. 15] for each workman to be employed as a contract labor.]
8[(1A) Where the applicant for the license was holding a license in regard to another work and that license had expired, the licensing officer, if he is of the view that any amount out of the security deposited in respect of that license is to be directed to be refunded to the applicant under Rule 31, may, on an application made for that purpose in Form V-A by the applicant adjust the amount so to be refunded towards the security required to be deposited in respect of the application for the new license and the applicant need deposit, in such a case, only the balance amount, if any, after making such adjustment.
(2) 9[The amount of security, or the balance amount, required to be deposited under sub-rule (1) or, as the case may be, under sub-rule (1-A)] shall be paid in the local Treasury under the Head of Account "Section T-Deposits and Advances-Part II Deposits not bearing interest-(c) Other Deposit Accounts-Departmental and judicial Deposits-Civil Deposits; Deposits, under Contract Labor (Regulation and Abolition) Act, 1970 (Central)".