(1) Each Institute shall constitute for the benefit of its employees, including the Director, in such manner and subject to such conditions as may be specified by the Statutes, such pension, insurance and provident funds as it may deem fit. (2) Where the provident fund referred to in sub-section (1) has been constituted, the Central Government may declare that the provision of the Provident Funds Act, 1925 (19 of 1925) shall apply to such fund as if it were a Government Provident Fund.Open in Lexace · Ask the AI about this section
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