State Act
62
Section 62. Provident Fund.
THE KARNATAKA CO-OPERATIVE SOCIETIES ACT, 1959.
Act no. 11 of 19591959In forceKarnataka (State Act)
62. Provident Fund.- (1) A co-operative 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 society in accordance with the bye-laws of the society. (2) A contributory Provident Fund established by a co-operative 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 process of any court or other authority.