39Pension and provident funds.

(1) The University shall constitute, for the benefit of its officers [including the Upacharya (Vice-Chancellor)], ¹[adhyapakas], and other servants, in such manner and subject to such conditions as may be prescribed by the Statutes, such pension, insurance and provident funds as it may deem fit.
(2) Where any such pension, insurance or provident fund has been so constituted, the Central Government may declare that the provisions of the Provident Funds Act, 1925 (17 of 1925), shall apply to such fund as if it were a Government Provident Fund.