Act Number: 39

Act Name: The Multi-State Co-operative Societies Act, 2002

Year: 2002

Enactment Date: 2002-07-03

Long Title: 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.

Ministry: Ministry of Cooperation

Department:

Section 69: Contributory provident fund.
    (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.
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