Amendment status not verified — confirm the current text below against the official source.
(1) The Institute shall constitute for the benefit of its officers, teachers and other employees, in such manner and subject to such conditions as may be prescribed by the regulations, such schemes of pension, provident funds and insurance as it may deem fit with the prior approval of the Government. (2) Where any such pension or provident fund has been constituted, the Government may declare that the provisions of the Provident Funds Act, 1925, shall apply to such fund as if it were a Government Provident Fund.