55. Limitation on contribution by a shareholder who is an employee

55. Limitation on contribution by a shareholder who is an employee,—

Where an employee of a company owns shares in the company ¹( with a voting power exceedign five percent of the whole of such power), the sum of the contributions of the employee and employer to the recognised provident fund main­tained by the company shall not exceed taka 500 in any month.

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¹ Ins. vide S.R.O. No. 150-L/87, dt: 16-07-1987

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