Provisions applicable to provident funds of employees.

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.... or received or accruing by way of interest or otherwise to such fund shall, within fifteen days from the date of contribution, receipt or accrual, as the case may be, either____ (a) be deposited____ (i) in a post office savings bank account, or (ii) in a special account to be opened by the company for the purpose in the State Bank of India or in a Scheduled Bank, or (iii) where the compan....

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....s of an employee under the rules of a provident fund to obtain advances from or to withdraw money standing to his credit in the fund, where the fund is a recognised provident fund within the meaning of clause (a) of section 58A of the Indian Income-tax Act, 1922,[2] or where the rules of the fund contain provisions corresponding to rules 4, 5, 6, 7, 8 and 9, of the Indian Income-tax (Provident Fun....