The Jain philosophy stands on the principle that the world is created and maintained by a Universal Law. Here`s an explanation of all options.

Option 1: Universal Law: Jains believe that the world runs through a self-regulated process by the universal natural laws. It`s not created or maintained by a deity, it simply works based on the physics and dynamics of universe itself. Hence, this is the correct option.

Option 2: Universal Truth: Although Jains believe in universal truths like non-violence, the philosophy does not hold the idea that the world is created or maintained by these truths.

Option 3: Universal Faith: While Jains encourage faith, they don`t ascribe the creation or maintenance of the world to a universal faith.

Option 4: Universal Soul: Jainism acknowledges the existence of soul in every living entity, but does not hold that a Universal Soul creates or maintains the world.

So, option 1 fits best with the Jain philosophical system.