Hello Mr. Rajeshwar
I am just coming straightaway to your query posted.
Just go through the following procedure for opting the license for the contractor:
1. First of all go through the applicability of central & state rule for the contractor labour (
Regulation & abolition)Act 1970.
2. Then apply for the opting of labour license in form v & form iv along with challan payment copy in quardilateral to be submitted in any sbi branch/rbi/treasury.
3. At the time of fresh opting for the license you need to deposit security amount for total no of contract workmen under seurity deposits act of cotract labour act 1972.
4. The security deposit amount is rs 1000 per head as per the security deposits act of contreactor labour ( r&a) 1972.
5.Calculation of security deposit amount is as follow:
total sd amount = sd per head *no of worker under contractor for whom labour license is be applied.
Total sd amount =1000*50 i.e. rs 50000
Regards
Bhagat Singh
Hr Executive
Shree Nakoda ISPAT
Raipur(CG)
8085380091