(1) Every officer and other employee who immediately before the date of order of appointment of the Board of Control, is employed in or in connection with the establishments and allied institutions, even after commencement of this Act shall hold office from the date of that order, as officer or other employee, as the case may be, for the same tenure, with the same remuneration and upon the same terms and conditions till the prescribed date as he would have held if this Act has not been passed. After the vesting of establishments in the Government, by virtue of this Act, the service conditions of such teachers, officers and employees shall be as prescribed or as per the orders issued by the Government in this behalf.
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(2) Where the establishments have constituted a provident fund or superannuation fund or any other fund for the benefit of the person, employed in such establishment, the amounts in respect of the officer or other employees whose services have become transferred, by or under this Act shall be dealt with in such manner as may be prescribed.