66. (1) The University shall, in such manner and subject to such conditions as may be prescribed by the Statutes, constitute, for the benefit of its officers, teachers, clerical staff and other employees, such pension, group insurance, benevolent fund, provident fund or gratuity as it may deem fit. (2) Where any provident fund has been constituted, the Government may declare that the provisions of the Provident Funds Act, 1925, shall apply to such funds as if it were a Government Provident Fund.