Section 69
Contributory provident fund.
The Multi-State Co-operative Societies Act, 2002
About this Act
An Act to consolidate and amend the law relating to co-operative societies, with objects not confined to one State and serving the interests of members in more than one State, to facilitate the voluntary formation and democratic functioning of co-operative s as peoples institutions based on self-help and mutual aid and to enable them to promote their economic and social betterment and to provide functional autonomy and for matters connected therewith or incidental thereto.
(1) Subject to the provisions of the Employees' Provident Fund
and Miscellaneous Provisions Act, 1952 (19 of 1952), a multi-State co-operative society having such
number or class of employees as may be prescribed, may establish a contributory provident fund for the
benefit of its 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 of any court or other authority.
(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 of any court or other authority.