Payment of Wages. Contractor shall maintain a record of payment to the workers in accordance with the labour laws in the form of wage slip & will submit the same on monthly basis. The contactor shall also submit the copy of bank A/c statement of his staff reflecting credit of monthly salary, proof of ESIC payment for each security guard which shall be submitted along with the bill. Bank reserves the right to depute officer/ staff to verify minimum wages. 9. In case any deficiency in services non-wearing of prescribed uniform, less manpower, double shifts by guards etc., is observed or brought to notice of the office a proportionate amount, as deemed suitable by the Bank may be deducted as penalty for deficiency in services from the monthly bill and in any case, it will not be refunded to the contractor, in future. The decision of the Bank with respect to imposition and enforcement of penalty shall be final and binding and that payment of penalty would in no way tantamount to regularization of any irregularity or whatsoever. The above penalties would be subject to cap of 20% of total AMC contract value. 10.
