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, other non-teaching staff and other employees of the University such pension, insurance and provident fund schemes 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 Fund 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, in consultation with the Finance Committee constituted under Section 63 invest the provident fund amount in such manner as it may determine.