Section 29
Pension, provident fund, etc.
The Indian Institute of Petroleum and Energy Act, 2018
About this Act
An Act to declare the institution known as the Indian Institute of Petroleum and Energy to be an institution of national importance and to provide for its incorporation and for matters connected therewith or incidental thereto
(1) The Institute shall constitute for the benefit of its
employees, including the Director, such pension, insurance and provident fund scheme as it deems fit,
in such manner and subject to such conditions as may be provided by the Statutes.
(2) Where any such provident 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.
(2) Where any such provident 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.