Amendment status not verified — confirm the current text below against the official source.
Application of General Fund.- The General Fund shall be utilized for the following purposes, namely:- (a) for the payment of salaries and allowances of the employees of the University and members of the teaching and research staff, and for payment of any Provident Fund contributions, gratuity and other benefits to such officers and employees; (b) for the expenses to be incurred by the University for services availed including services like electricity, telephone etc.; (c) for the payment of taxes or local levies wherever applicable; (d) for up keeping of the assets of the University; (e) for the payment of debts including interest charges thereto incurred by the University; (f) for the payment of travelling and other allowances to the members of the Governing Body, the Board of Management, the Academic Council, etc.; (g) for the payment of fellowships, freeships, scholarships, assistantships and other awards to students belonging to economically weaker sections of the society or research associates or trainees, as the case may be, or to any student otherwise eligible for such awards under the statutes, ordinances, regulations or rules made under this Act; (h) for the payment of the cost of audit of the funds created under sections 8 and 9 of this Act; (i) for the meeting of expenses of any suit or proceedings to which University is a party; (j) for the purpose of movable and immovable assets; (k) for the payment of any expenses incurred by the University in carrying out the provisions of this Act or the statutes, ordinances, regulations or rules made thereunder; and (l) for the payment of any other expenses as approved by the Board of Management to be an expense for the purposes of the University: