Thanks for your reply !!!

As I mentioned earlier, if i have two or more version software. All the files created in previous versions file should be able to handle in the last version so i want to handle version compatibility.   
I am talking about Dot net serialization and aware about those concepts. I am using Binary formatter. We can not use .net default serialization. We want to Implement ISerializable interface.  

Sample code:

public class Employee :ISerializable
{
private int version =1;

//ADD emoployee name in this list
private ArrayList employeeList;

protected TestData(SerializationInfo info,StreamingContext context)
{
this.version = info.GetInt32("version");
this.name = info.GetString("list");
}

void ISerializable.GetObjectData(SerializationInfo info, StreamingContext context)
{
info.AddValue("version", this.version);
info.AddValue("list", this.employeeList);
}
}

Above code, I can not  deserialize ArrayList. It is giving exception.