Amendment status not verified — confirm the current text below against the official source.
(1) The University shall constitute for the benefit of its officers, teachers, ministerial staff and other employees, in such manner and subject to such conditions as may be prescribed, such pension, gratuity, insurance, provident fund as it may deem fit: Provided that the University shall have power in consultation with the Finance Committee, to invest the Provident Fund amount in such manner as it may determine. (2) For such pension, gratuity, insurance and provident fund so constituted by the University, the Government may declare that the provisions of the Provident Fund Act shall apply to such funds as if it were a Government provident fund. Co-ordination among Government Departments and University. Appointment of Teachers. Provident Fund, Pension, Insurance and Welfare Fund. [Act No.30 of 2007] 41 (3) The University, in addition, may constitute welfare funds for the benefit of its employees and students.