(1) Any society may establish for its employees a provident Employees*

(1) Any society may estabiish for its employees a provident fund, into Which shall be paid contributions made by its employees and by the society. Such provident fund shall not be used in the business of the society, nor shall it form: part of the assets of the society ; but shall be invested under the provisions of the last preceding section, and shall be administered, in the manner prescribed. (2) Notwithstanding anything contained in the foregoing subsection a provident fund estabiished by a society to which the Employees’ Pro-vident Fund Act, 1952 is applicable shall be governed by the Act;