Section 39 of The Rajiv Gandhi University Act, 2006
- (1)The University shall constitute for the benefit of its employees such provident 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.
Summary
- The university is required to establish provident funds, pension funds, or insurance schemes for the benefit of its employees.
- The manner and conditions for setting up these funds and schemes are outlined in the Statutes.
- Once a provident or pension fund is created, the Central Government can intervene to grant it special status.
- The Central Government can declare that the Provident Funds Act of 1925 applies to the university's fund, treating it legally as if it were a Government provident fund.
Practical examples
FAQ
1. Who benefits from the funds mentioned in this section?
The employees of the university.
2. What types of financial benefits can the university set up under this rule?
Provident funds, pension funds, and insurance schemes.
3. Where are the detailed rules for these funds written?
The manner and conditions are prescribed by the university's Statutes.
4. Can the university's fund be treated like a government fund?
Yes, if the Central Government declares that the Provident Funds Act of 1925 applies to it.
Test yourself
Q1.Under Section 39 of The Rajiv Gandhi University Act, 2006, which entity has the power to declare that the Provident Funds Act, 1925 applies to the university's fund?
Q2.According to Section 39 of The Rajiv Gandhi University Act, 2006, where must the conditions and manner of providing insurance schemes or pension funds be prescribed?
Q3.Under Section 39 of The Rajiv Gandhi University Act, 2006, what is the legal effect of the Central Government declaring that the Provident Funds Act, 1925 applies to the university's fund?
Q4.Which of the following financial benefits is NOT explicitly listed in Section 39 of The Rajiv Gandhi University Act, 2006 as something the university shall constitute or provide for its employees?