Please give me correct answer for my query that one of my frd's Pvt Ltd Company had Bank Accounts with HDFC bank and and for depositing PF challan and Cheque they go near by SBI Bank. But the banker from SBI discouraging to take PF challan and chq and they are telling to open Current Account with SBI.
IS it compulsory to open SBI Current A/c with that branch. As the company directors are not interested to open another SBI Account because they many accounts just like EEFC and current and Salary A/c with HDFC.
For opening another Account with SBI the companies as to follow plenty of documentation.
Please suggest me that is it compulsory to open C/A with SBI or the Banker can accept PF Challans without opening A/c.
Sreenivasa Rao B