(1) The annual accounts of the University shall be prepared under the direction of the executive council and shall be submitted to the State Government for audit.
(2) The executive council shall after the accounts are audited, submit a copy thereof along with a copy of the audit report to the Senate and to the State Government.
(3) The executive council shall also prepare, before such date as may be prescribed by the Statutes, the financial estimates for the ensuing year.
(4) On the annual accounts and financial estimate shall be considered by the [Executive Council] 1 in the annual meeting and the [Executive Council] 1 may be passed a resolution in this behalf.
Annual Report 49. The Annual Report of the University shall be prepared under the direction of the [Executive Council] 1 prescribed by the Statutes and shall be submitted to the Court its annual meeting and the Court shall consider it in its annual meeting.
Chapter-XI Supplementary provision Conditions of service
50. Except as otherwise provided by or under this Act every employee of the University including a teacher of the University may be appointed under a written contract and such contract shall not be inconsistent with the provisions of this Act, and a copy of which shall be furnished to the employee concerned officers and employees to be public servants
51. Every officer and employee of the University shall be deemed to be a public servant within the meaning of section 21 of the Indian Penal Code.
Explanation- For the purposes of this section any person who is appointed by the University for a specified period, or for a specified work of the University or who receives any remuneration by way of compensatory allowance or fee for any work done from the University Fund shall be deemed to be an officer or employee of the University while he is performing and in relation to all matters relatable to the performance of, the duties and functions connected with such appointment of work.
Tribunal of Arbitration
52. Any dispute arising out of a contract of employment referred between the University and an employee or a teacher shall, at the request of either party, be referred to a Tribunal of Arbitration which shall consist of one member nominated by the Executive Council, one member nominated by the employee or teacher concerned and an umpire to be nominated by the Chancellor. Every such reference shall be deemed to be a submission to arbitration upon the terms of this section within the meanings of Arbitration and Conciliations Act, 1996 (central Act no. 22 of 1996).
Provident, Insurance and Pension Funds
53. The University shall constitute for the benefit of the employees, teachers and other employees such provident, insurance or pension funds as it may deem fit in such manner and subject to such conditions as may be prescribed by the Statutes.
----------------------------------------------------------------------------------------------- 1- subs. by sub-section (15) of section 12 of the Uttrakhand Act no. 16 of 2014.
deposit of provident fund in Government treasury