(1) The University shall institute for the benefit of its officers, teachers and other persons employed by the University, such pension, gratuity, insurance and provident fund as it may deem fit, in such manner and subject to such conditions as may be prescribed.
Pension Gratuity etc., Central Act XI of 1925
(2) Where the University has so instituted a provident fund under subsection(1), the Government may declare that the provisions of the Provident Funds Act, 1925, shall apply to such funds as if the University were a local authority and the fund a Government Provident Fund.
(3) The University, may, in consultation with the Finance Committee, invest the Provident Fund in such manner as it may determine.
43. Subject to the provisions of this Act, the appointment, procedure for selection, pay and allowances and other conditions of services of officers, teachers and other persons employed in the University shall be such as may be prescribed.
Conditions of Service
Explanation – For the purpose of this section, the word “officers”. Shall not include the Chancellor and the Pro-Chancellor.
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