20. Pension and provident funds.-

(1) 3[Every Institute] shall constitute for the benefit of its officers, teachers and other employees in such manner and subject to such conditions as may be prescribed by regulations, such pension and provident funds as it may deem fit.

4[Provided that the pension and provident fund constituted by the existing Institute or society, before the commencement of the All-India Institute of Medical Sciences (Amendment) Act, 2012 (37 of 2012), shall be deemed to be the pension and provident fund under this section.]

(2) Where any such pension or provident fund has been 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.