Pension, gratuity, etc

(1) The University shall institute for the benefit of its employees such pension, gratuity, and provident fund schemes, as it may deem fit, in such manner and subject to such conditions as may be prescribed by the Statutes.

1. (2) Where the University has instituted a provident fund under sub- section (1) the Government may declare the provisions of the Provident Funds Act 1925 (Central Act III of 1925) shall apply to such fund as if it were a Government Provident Fund.
2. (3) Persons in the Government service transferred to the University under the Act shall be entitled to pension under the Karnataka Civil Services Rules or such other rules as were applicable to them before their transfer to the University.
3. (4) The University may, in consultation with the Finance Committee, invest the provident fund in such manner as it may deem appropriate.