34. (1) The Board shall establish for the benefit of its officers and other employees, either Pension and Provident Funds or Contributory Provident Fund only, as it may deem fit, in such manner, and subject to such condition, as may be prescribed. When a Provident Fund is established, the Government may, by notification in the official Gazette, declare that the provisions of the Provident Funds Act, 1925, shall apply mutatis mutandis to such Funds. (2) In case the Board establishes Contributory Provident Fund under sub-section (1) all employees of the Board shall subscribe to that Fund a sum equal to 10 per cent of his salary every month. The Board shall contribute an equal amount in respect of each subscriber every month. (3) The terms and conditions of deposit of subscription and contributions to the Fund referred to in sub-section (2) and withdrawals and advances from it shall be such as may be prescribed.