The Contract Labour (Regulation and Abolition) Act, 1970, is an act that regulates the employment of contract labour in establishments in certain industries. Under this act, the Form V is an important document that needs to be maintained by an employer who engages contract labour in their establishment.

The form V is a register of contractors and is mandated to be maintained by the principal employer. The register should contain details of all the contractors engaged by the employer along with the number of contract labourers employed by each contractor. The register should be maintained in duplicate, and one copy should be sent to the registering officer and the other kept by the employer.

The format of the form V is divided into six columns:

1. Name and address of the contractor: This column should contain the name and address of the contractor who has been engaged by the principal employer.

2. License Number: This column should contain the license number allotted by the registering officer to the contractor.

3. Date of Commencement: This column should contain the date on which the contractor started providing services to the principal employer.

4. Maximum number of contract labour deployed: This column should contain the maximum number of contract labour that can be deployed by the contractor at any given point in time.

5. Actual number of contract labour deployed: This column should contain the actual number of contract labour deployed by the contractor at the time of inspection or on the date of submission of the return.

6. Remarks: This column should contain any remarks or observations made by the principal employer or the registering officer.

It is important to note that the Form V should be updated regularly and should be made available for inspection by the registering officer or any other authorized person. The form V is an essential document that helps the authorities monitor the employment of contract labour and ensure compliance with the provisions of the Contract Labour (Regulation and Abolition) Act, 1970.

In conclusion, the format of the Form V is relatively straightforward and easy to maintain. It is important for employers who engage contract labour to ensure that they comply with the provisions of the Contract Labour (Regulation and Abolition) Act, 1970, and maintain the Form V as per the prescribed format. Employers should also keep a watchful eye on the employment of contract labourers to avoid any legal or compliance issues.