Provident Fund to be deposited in Government Treasury

Education202668 sections9 chapters

Chapter IX MISCELLANEOUS

Statutory text

(1) Where the University has established provident fund for the benefit of its officers, teachers and other employees under section 56, such fund shall notwithstanding anything contained in any law for the time being in force, be deposited in the State Government Treasury in accordance with such directions as the State Government may, from time to time by an order in written give and thereupon -
- (a) 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 servant is for the time being entitled to on the balance of his provident fund account; and
- (b) the rules for the time being in force relating to the limits of withdrawals from the provident fund applicable to such Government servant shall, so far as may be, apply to the subscriber.
(2) Nothing in the section shall apply to a Provident Fund established by the University to which the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952 (Central Act. No. 19 of 1952) applies.

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