Indian Penal Code (IPC)
Section 381. Theft by clerk or servant of property in possession of master
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.
CLASSIFICATION OF OFFENCE
Punishment—Imprisonment for 7 years and fine—Cognizable—Non-bailable—Triable by any Magistrate—Compounded by the owner of the property stolen with the permission of the court.