Amendment status not verified — confirm the current text below against the official source.
(1) The University shall institute for the benefit of its officers, teachers and other employees such pension, gratuity, insurance and provident fund as it may deem fit, in such manner and subject to such conditions as may be prescribed. Pension, gratuity, etc. (2) Where the University has so instituted a provident fund under sub-section (1), the Government may declare that the provisions of the Provident Funds Act, 1925 (Central Act XIX of 1925), shall apply to such fund as if the University were a local authority and the fund a Government provident fund. (3) The University may, in consultation with the Finance Committee, invest the provident fund amount in such manner as it may determine. Explanation:- For the purposes of this section and sections 35, 38 and 47, the word ―officer‖ shall not include the Chancellor, the Pro-Chancellor and the Vice-Chancellor of the University.