Contribution of Cooperative Education Fund

20 giP engHB 1-15 HW 2013

Contribution of Cooperative Education Fund

The Registrar, Cooperative Societies, Punjab, Chandigarh

(E & T Branch)

To 1. All the Managing Director, Apex Cooperative Institutions

2. All the Joint/Deputy/Assistant Registrars, Cooperative Societies in State Memo No. RCS.E&T/EI/37/90-A Dated : 28.12.2012

Sub : Regarding Contribution of Cooperative Education Fund

Please refer to this office letter No. RCS/E&T/E.I./325-A dated 23.11.2001 vide which rates of contributions to be made to Cooperative Education Fund by the Cooperative Societies were fixed.

2.    A period of eleven years has passed since the fixation of rates of contributions to be made to the Cooperative Education Fund. More funds are needed for the stepped-up activities of Education, Training and Publicity by Puncofed. So the need has arisen for upward revision of the rate of contribution to be made to the Cooperative Education Fund.

3.    Therefore, as per Section-43 of the Punjab Cooperative Societies Act 1961, Rule 36 of the Punjab Cooperative Societies Rules 1963 and Regulation 4.3 of Cooperative Education Fund it has been decided that all the Cooperative Societies shall make contributions to the Cooperative Education Fund being maintained by the Punjab State Cooperative Development Federation Limited (PUNCOFED) at the rates given below :-

S.No.	Kind of Societies	Rate of contribution
1.	Primary Cooperative Societies	2% of Net Profit of the year subject to a maximum of Rs. 4000/-
2.	Central Cooperative Banks., Urban Coop. Banks, Distt. Coop. Labour Unions., Distt. Coop. Milk Unions, Coop. Marketing Societies and other Central Societies	2% of Net Profit of the Year subject to a maximum of Rs. 3.00 lacs
3.	P.A.D.Bs	2% of Net Profit of the Year subject to a maximum of Rs. 1.50 lacs
4.	Apex Cooperative Institutions	2% of Net Profit of the Year subject to a maximum of Rs. 5.00 lacs

4.    The above said rates shall be applicable for the financial year ending 31.3.2013.

5.    The above rates should be brought to the notice of all the Cooperative Societies located in your area of operation.

6.    The Apex and the Central Coop. Institutions will recover the Coop. Education Fund from their member Central Institutions and Primary Societies whichever applicable and deposit the same with Puncofed.

Sd/-

_Additional Registrar (D)_