Employee’s Provident Fund.

Corporate1960195 sections

Statutory text

(1) A society 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) 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;
- (c) shall not be liable to attachment or be subject to any other process of any court or other authority; and
- (d) shall be administered in such manner as may be prescribed.

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