The scales of pay and allowances, pension, gratuity, provident fund and other prescribed benefits of the employees of a recognized private school shall not be less than those of the employees of the corresponding status in schools run by the Government:
Provided that where the scales of any pay and allowances, pension, gratuity, provident fund and other prescribed benefits of the employees of any recognized private school are less than those of the employees of the corresponding status in the schools run by the Government, the Director shall direct, in writing, the managing committee of such school to bring the same up to -10- the level of those of the employees of the corresponding status in schools run by the Government:
Provided further that the failure to comply with the such direction shall be deemed to be noncompliance with the conditions for continuing recognition of an existing school and the provisions of section 5 shall apply accordingly:
Provided also that in each recognized school, which does not receive any aid, there shall be a Fund, to be called “the Employees Retirement Benefit Fund”, and there shall be credited to that Fund every contributions made by the school and the employees towards retirement benefits.
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CHAPTER V Provisions applicable to unaided minority schools