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(1) The University shall constitute for the benefit of its
employees such provident fund or pension fund or provide such insurance schemes as it may deem fit in
such manner and subject to such conditions as may be prescribed by the Statutes.
(2) Where such provident fund or pension fund has been so constituted, the Central Government may
declare that the provisions of the Provident Funds Act, 1925 (19 of 1925), shall apply to such fund as if it
were a Government provident fund.
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