Multi-State Cooperative Societies Act, 1984
66. Contributory
Provident Fund.-
1.
A
multi-State cooperative society having such number or class of employees as may
be prescribed may establish a contributory provident fund for the benefit of
such employees to which shall be credited all contributions made by the
employees and the society in accordance with the bye-laws of the society.
2.
Monies
standing to the credit of any contributory provident fund established by a
multi-State cooperative society under sub-section (1) shall not -
a. be used in the
business of the society;
b. form part of the
assets of the society;
c. be liable to
attachment or be subject to any other process or any court or other authority.
1.
2.
3.
Notwithstanding
anything contained in this section, a provident fund established by a
multi-State cooperative society to which the provisions of the Employees'
Provident Funds and Miscellaneous Provisions Act, 1952, apply, shall be
governed by that Act.