Contributory Provident Fund establishment

(1) Every co-operative society having such number of employees as may be prescribed in PF Act, in its service holding whole-time substantive appointment, shall establish a contributory provident fund referred to in Sub-section (1) of Section 63. (2) The said contributory provident fund shall, subject to the provisions of the Act and the Rules, be governed by such conditions as laid down in the bye-laws of the society.