Amendment status not verified — confirm the current text below against the official source.
(1) The University shall constitute for the benefit of the officers, teachers, clerical staff and other employees of the University such pension, insurance and provident funds as it may deem fit in such manner and subject to such conditions as may be prescribed. (2) Where any such pension, insurance or provident fund has been constituted by the University, the Government may declare that the provisions of the Provident Funds Act 1925 (Central Act 19 of 1925), shall apply to such fund as if it were a Government Provident Fund. Provided that the University shall have power in consultation with the Finance Committee constituted under section 46 to invest the provident fund amount in such manner as it may determine.