Here we are going to explain what is punishable offence in this section is and how much has imprisonment or fine under section 381.
Theft by clerk or servant of property in possession of master:
In this section states that Whoever, being a clerk or servant, or being employed in the capacity of a clerk or servant, commits theft in respect of any property in the possession of his master or employer, shall be punished with imprisonment of either description for a term which may extend to seven years, and shall also be liable to fine.
Offence: Theft by clerk or servant of property in possession of master or employer
Punishment: 7 Years + Fine
This is a Non-Bailable, Cognizable offence and Triable by Any Magistrate
Offence is Compoundable by: The owner of the property stolen, with the permission of the Court