Section 40(1) in The Indira Gandhi Agriculture University, Raipur Statutes, 1987
(1)(a)The Fund shall be held by the Vishwavidyalaya and shall be administered by a Committee of Trustees comprising of the Vice-Chancellor, Registrar, Comptroller, and at least two representatives of the employees to be nominated by the Vice-Chancellor.(b)All money belonging to the Fund shall be deposited with the Reserve Bank of India, State Bank of India or in such scheduled banks as may be decided in this behalf by the Committee or invested in the securities of State or Central Governments, in the name of the "Indira Gandhi Krishi Vishwavidyalaya Contributory Provident Fund" to be operated by one or more persons singly or jointly as may be nominated by the Committee. The Committee, at its discretion, may also open Saving Bank Account and/or Cumulative Time Deposit Account in the individual name of the subscriber in the Post Office or Banks and arrange for its operation in the above manner.(c)The Accounts of the Fund shall be made up yearly as at the 31st March and an audited statement of accounts shall be submitted to a meeting of the Committee to be held not later than the 31st August, in every year or within two months of the annual audit of the accounts whichever is later and a copy of such statement shall be made available to the subscriber as soon as may be after such meeting.(d)The Accounts of the fund shall be audited by the same authority which audits the accounts of the Vishwavidyalaya or by a Chartered Accountant appointed by the Vishwavidyalaya.
