(1)The existing Contributory Provident Fund shall continue to be maintained by every Managing Committee of a privately managed recognised aided school for those employees who not opt for the Scheme as envisaged in clause 3 and the Managing Committee of a privately managed recognised aided school shall also continue to contribute five per cent or the ten per cent of the pay of the employees or at such other rates as may be fixed from time to time by the State Government, as their share towards the Contributory Provident Fund.
