(1)University shall constitute for the benefit of its officers, teachers, clerical staff and employees in such, manner and subject to such conditions as may be prescribed by the Statutes such pension, insurance and provident fund as it may deem fit.(2)Where any such provident fund has been so constituted, the Chancellor may declare that the provisions of the Provident Fund Act, 1925 (No. 19 of 1925), shall apply to such fund as if it were a Government Provident Fund.
