Amendment status not verified — confirm the current text below against the official source.
Contributory Provident Fund.- (1) A registered society shall 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 rules and by-laws or the Employees Provident Funds Act, 1952 (Central Act 19 of 1952) whichever is more beneficial. (2) A contributory provident fund established by a registered 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; (c) shall not be liable to attachment or be subject to any other process of any court or other authority; (d) shall be invested in the financing bank.