Section 138(1) in The U.P. Co-operative Societies Rules, 1968
(1)Every co-operative society shall out of its net profits contribute towards the Co-operative Education Fund within one month of the end of the year at the rate of half per cent of its net profit or the amount given below whichever is higher:(a)Primary Co-operative Society - Rs. 500 per annum.(b)District/Central Co-operative Bank - Rs. 10,000 per annum.(c)Other Central Co-operative Societies - Rs. 5,000 per annum.(d)Uttar Pradesh Co-operative Bank, Uttar Pradesh Gram Vikas Bank, Uttar Pradesh Co-operative Federation - Rs. 1,00,000 per annum(e)Apex Societies other than (d) above - Rs. 25,000 per annum.Provided that such co-operative societies which incur loss in the year shall also contribute towards the Co-operative Education Fund:Provided further that the Registrar may remit fully or partially the contribution from any co-operative society on the ground of its bad financial condition.
