Act Number: 59

Act Name: The Institutes of Technology Act, 1961

Year: 1961

Enactment Date: 1961-12-19

Long Title: An Act to declare certain institutions of technology to be institutions of national importance and to provide for certain matters connected with such institutions and the Indian Institute of Technology, Kharagpur.

Ministry: Ministry of Human Resource Development

Department: Department of Higher Education

Section 24: Pension and provident fund.
    (1) Every Institute shall constitute for the benefit of its employees, including the Director, in such manner and subject to such conditions as may be prescribed by the Statutes, such pension, insurance and provident funds as it may deem fit.
     (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.
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