Section 43(3)(l) in The Bombay University Act, 1974
(l)that the college gives an undertaking that the emoluments, including allowances that are required to be paid to teachers and other employees of the college, are, and shall be, in accordance with the grades and allowances sanctioned under the Statutes from time to time and that the rules prescribing the qualifications, security of tenure, disciplinary matters and other terms and conditions of service of the teachers and other employees of the college shall be in accordance with the Statutes made by the Senate from time to time;