The amount so paid shall form part of the superannuation fund or other like funds, if any, that may be established by the Periyar University for the benefit of its employees.

Payment of certain amount by Chennai University

1. (1) The Chennai University shall, out of its funds as on the notified date, pay to the Periyar University such amount as the Government may, in consultation with the Chennai University, specify.
2. (2) The amount payable under sub-section (1) shall be in addition to the amounts payable by the Chennai University to the Periyar University under section 58.