(1) The sums at the credit of the Provident Fund accounts of the person referred to in sub-section (1) of section 64 on the day immediately before the appointed day and of the employees referred to in sub-section (2) of that section as on the dates specified in the order under sub-section (2) shall be transferred to the University and the liability in respect of the said Provident Fund accounts shall be liability of the University.
(2) There shall be paid to the University, out of the accumulation in the superannuation fund and other like funds, if any, of the Krishi Vidyapeeths or, as the case may be, of the State Government, such amounts as have been credited to the superannuation fund or other like funds, if any, on behalf of the persons referred to in sub-sections (1) and (2) of section 64. The amounts so paid shall form part of the superannuation fund or other like funds, if any, that may be established by the University for the benefit of its' employees.