Pension, provident funds, etc.

38.

1. (1) The University shall constitute for the benefit of its officers, teachers and other employees in such manner and subject to such conditions as may be prescribed such pension, provident and insurance funds as it may deem fit.
2. (2) The State Government may declare that the provisions of the Provident Funds Act, 1925 shall apply to the funds constituted under sub-section
3. (1) as if they were Government provident funds.
4. (3) The University shall have power to invest the provident fund amount, in consultation with the Financial Committee constituted under section 40 in such manner as it may determine.