45. Deposit in Bank. - The amount of the deduction made from the salary of an employee under Statute 43 and the amount of the contribution made by the University under Statute 44 shall be deposited in the Post Office Savings Bank or in the State Bank as the Executive Council may direct, in the name of the Fund as early as practicable or at any rate within three days of the date on which the payment of the salary is made.
