Pension, provident fund and insurance fund

(1) The University shall institute, for the benefit of its officers, teachers and other employees, pension, provident fund and insurance fund, as it may deem fit. (2) Where any provident fund and insurance fund have been so constituted, the provisions of the Provident Fund Act, 1925 (Central Act 19 of 1925), shall be applicable to it as if it were a Government Provident Fund. A degree, diploma, certificate and other academic distinctions may be withdrawn if— (a) if the candidature of the person concerned has been cancelled or result quashed in accordance with the manner laid down by the Ordinance; or (b) if the candidate has misbehaved at a convocation of the University; terms of this Statute shall be finally decided by the Vice-Chancellor; or (c) when sufficient evidence is laid before the Academic Council showing that any person on whom a degree or diploma etc. was conferred by the University has been convicted of what is in their opinion a serious offence, the Academic Council may recommend to the Executive Council that such degree or diploma be cancelled.