CCOS Rules 33Chapter IV · Duties, Privileges, Property and Funds of Societies

Section 33 · Employee's Provident Fund

- A Society which has established a contributory Provident Fund for the benefit of its employees under sub-section (1) of Section 46 shall, with the previous approval of the Registrar, frame regulations for the maintenance and utilisation of such Fund. Among other matters such regulations shall provide for the following :-

(a)

authority administering the contributory Provident Fund;

(b)

category of employees entitled to contribute to the Provident Fund;

(c)

amount of contribution to be deducted from the employee's salary;

(d)

the rate of contribution to be made by the society;

(e)

mode of nomination for payment of the amount of the contributory Provident Fund in case of employee's death;

(f)

mode of investment of the contributory Provident Fund and payment of interest thereon;

(g)

the purpose for which and the extent to which advances may be made against the security of the contributory Provident Fund and the period after which this could be done and number of monthly instalments in which it is to be recouped;

(h)

refund of employee's contribution and contribution made by the society;

(i)

maintenance of accounts in respect of Contributory Provident Fund, withdrawals and such other matters as may be necessary in such form as may be specified by the Registrar;

(j)

the authority to which disputes, if any, between employees and the society shall be referred .

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