Amendment status not verified — confirm the current text below against the official source.
Provident Fund :– (1) A Society may establish a Contributory Provi- dent Fund for the benefit of its employees to which shall be credited all contri- butions made by the employees and the Society in accordance with the Bye- laws of the Society. (2) A Contributory Provident Fund established by a Society under Sub- Section (1)– (a) shall not be used in the business of the Society; (b) shall not form part of the assets of the Society; and (c) shall not be liable to attachment or be subject to any other proc- ess of any Court or other authority. CHAPTER - VIII AUDIT, ENQUIRY, INSPECTION AND SURCHARGE 2[62. Audit :– (1) (i) The Auditor-General shall audit, or cause to be audited by an Auditor duly authorised by him in that behalf, the accounts of every Society for each Co-operative year, and complete such audit within six months of the closure of the year, at least once or for such number of times as may be directed by the State Government from time to time in respect of any Society or class of Societies: 3[Provided that the Auditor-General of the Co-operative Societies, Orissa may engage one or more Chartered Accountants to cause the audit of the accounts of the Co-operative Society and the fees shall be paid by the Society both to the Chartered Accountant and the Government for the audit of its accounts for each Co-operative year at such rate as may be fixed by the Gov- ernment.]