Provident fund

(1) The State Government shall establish a provident fund for employees of the Authority, and such provident fund (hereinafter called as “the provident fund”) shall, notwithstanding anything contained in section 8 of the Provident Funds Act, 1925 (XIX of 1925), be deemed to be a Government Provident Fund for the purposes of that Act ; and such provident fund may be administered by such officers of the State Government or of the Authority, as the State Government may specify in that behalf. (2) The Authority shall, in respect of each of its employees who is a subscriber to the provident fund, pay into that fund such portion of the contribution in such manner as the State Government may, from time to time, determine.