33. (1) The Board shall establish for the benefit of its officers and employees either Pension and Provident Funds or Contributory Provident Fund only as it may deem fit in such manner, and subject to such conditions, as may be prescribed. (2) In case the Board establishes a Contributory Provident Fund under sub-section (1), all officers and employees of the Board shall subscribe to that Fund a sum equal to 8› per cent of his salary every month and the Board shall contribute an equal amount in respect of such subscriber every month. (3) The terms and conditions of deposits of subscriptions and contributions to the Fund and withdrawals and advances from such Fund shall be such as may be prescribed.