Section 36. Provident Fund. Pension and Insurances.

(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 pension, insurance and provident fund as it may deem fit. (2) For such pension, insurance and provident fund so constituted by the University, the Government may declare that the provisions of the Jammu and Kashmir Provident Funds Act, Samvat 1998 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 the provident fund amount in such manner as it may determine.