Question
Once the amount has remained unclaimed for the said
period and becomes eligible to be transferred to the DEAF, within what time period such unclaimed amount must be credited to the DEAF?Solution
Under the provisions of this section the amount to the credit of any account in India with any bank which has not been operated upon for a period of ten years or any deposit or any amount remaining unclaimed for more than ten years shall be credited to the Fund , within a period of three months from the expiry of the said period of ten years.
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