Provident fund to be deposited in Government treasury

Education201577 sections

Statutory text

(1) Where the University has established a provident fund for the benefit of its officers, teachers and other employees under section 57, such fund shall, notwithstanding anything contained in any law for the time being in force, be deposited in the Government treasury in accordance with such directions as the State Government may, from time to time, by an order in writing give and thereupon,-
- (i) the subscriber to the fund shall be entitled to interest on the balance in his provident fund account at the same rate, at which the State Government employee is for the time being entitled to on the balance in his provident fund account; and
- (ii) the rules for the time being in force relating to the limits of withdrawals from the provident fund as applicable to the Government employees shall, so far as may be, apply to the subscriber.
(2) Nothing in this section shall apply to a provident fund established by the University to which the Employees' Provident Funds and Miscellaneous Provisions Act, 1952, applies.

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