Section 32State of Bihar Act
Section 32: Provident Fund, Pension and Insurance
Provident Fund, Pension and Insurance.
(1)
The University shall constitute for the benefit of its officers, teachers, ministerial staff and other employees, in such manner and subject to such conditions as may be prescribed, such as pension, gratuity, insurance, provident fund, contributory pension fund as approved by the State Government.(2)
For such pension, gratuity, insurance and provident fund so constituted by the University, the State Government may declare that the provisions of the Provident Funds Act shall apply to such funds as if it were Government Provident Fund:Provided that the University shall have power in consultation with the Finance Committee and the Board to invest Provident Fund amount in such manner as it may determine.Disclaimer: This section is reproduced for general informational and reference purposes only. Always verify against the latest official gazette and consult a qualified advocate before relying on any provision.