(1)The University shall make adequate provisions to constitute for the benefit of its officers, teachers and other employees in such manner and subject to such conditions as may be prescribed, pension, provident and insurance funds as it may deem fit.(2)The State Government may declare that the provisions of the Provident Funds Act, 1925,(XIX of 1925.) shall apply to the fund constituted under subsection (1) as if they were Government provident fund.
