State Act
49
Section 49. Provident fund.
The Telangana Co-operative Societies Act, 1964.
Act no. 7 of 19641964In forceTelangana (State Act)
49. (1) A society may, subject to the rules, establish a contributory provident fund for the benefit of its employees to which shall be credited all the contributions made by them and the society in accordance with its bye-laws. (2) The provident fund so established shall not,— (a) be used in the business of the society; (b) form part of the assets of the society, or (c) be liable to attachment or be subject to any other process of any court or other authority. (3) Notwithstanding anything in this section, a provident fund established by a society to which the Employees Provident Fund Act, 1952, is applicable, shall be governed by that Act.