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Last Updated On 10-Feb-2021
Work Permits

Can I work for own/another company as a director while working in PSU bank

Iam working as an Asst Manager in PSU bank.My husband wants to start a software company involving me and himself as a directors.Will this be a problem to me ? if the company earns profits then i wanted to quit bank and join completely in the company which may take an year or less than that.But as of now working in a bank and being a director of other company will be a problem to me? If the bank gets to know what kind of action they may take?is there any possibility of filing a case or terminating from service .Please let me know what would be worst act they can take? And how can i tackle that ? because this company is of R & D product of own and not related to service and banking

( Nellore, Andhra Pradesh )

10-Feb-2021

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A.
Hi,
No, you cannot hold a second position while employed by the Government. The bank can terminate your services if they find out.
If you wish to join your husband as a director of the company, you will need to first resign from your bank posting.
The consequences depend on the gravity of the offence, they can range from fines to imprisonment.
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Posted On 10-Feb-2021
Vidhikarya
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A.
Hi,
No, you cannot hold a second position when you are employed by the Government. If you wish to join the company with your husband, you must resign from your Government position. Your services will be terminated if the bank discovers this, but you may be able to claim some exemption.
The consequences will depend on the gravity of the contravention, it may be a simple fine but can also be a prison term. We will need more details to further assist you.
If you found this helpful, please rate us.
Posted On 10-Feb-2021
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