A female contraceptive for transcervical approach consisting of a chemical complex of iodine, itaconic acid and methyl methacrylate in a solvent is provided. Further, a process for preparation of female contraceptive for transcervical approach comprising coraplexing solution of itaconic acid-methyl methacrylate copolymer comprising itaconic acid and methyl methacrylate in a ratio varying from about 1:3 to about 1:8 respectively with solution of iodine to produce chemical complex of iodine, itaconic acid and methyl methacrylate is also provided.