Pension and Provident Funds.

(1) Every Planning and Development Authority shall constitute for the benefit of its officers and other employees, in such manner and subject to such conditions as may be prescribed, such pension and provident funds as it may deem fit.

(2) Where any such pension or provident fund has been constituted, 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.