Provident Fund

(1) The State Government shall establish a provident fund (hereinafter called the said fund) for the staff maintained by district school board. (2) Any provident fund established and maintained by a district school board for such staff before the date of the coming into force of the Bombay Primary Education and Housing Board (Amendment) Act, 1951, shall be merged into and form part of the said fund and the district school board concerned shall as soon as may be after the said date transfer from its primary education fund to the said fund a sum equal to the total amount standing to the credit of all the subscribers or depositors in the provident fund till the date of such transfer: Provided that in the event of any doubt arising as to the amount to be so transferred by any district school board from its primary education fund to the said fund, the matter shall be referred to the State Government or any officer authorized by it in this behalf, whose decision shall be final. (3) The district school board concerned shall, in respect of each of its employees who is a subscriber to the said fund, pay into said fund such portion of the contribution in such manner as the State Government may from time to time, determine.