Section 63 in The U.P. Co-operative Societies Act, 1965
63. Contributory Provident Fund.
(1)A co-operative society having such number or class of employees as may be prescribed, shall establish a contributory provident fund for the benefit of such employees to which shall be credited all contributions made by the employees and the 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) shall not-(a)be used in the business of the society;(b)form part of the assets of the society;(c)be liable to attachment or be subject to any other process of any court or other authority; and(d)be subject to charge or liable to be set off towards payment of any debt or outstanding demand owing to a co-operative society under Section 41.
