Legal Document View

Unlock Advanced Research with PRISMAI

- Know your Kanoon - Doc Gen Hub - Counter Argument - Case Predict AI - Talk with IK Doc - ...
Upgrade to Premium
[Cites 0, Cited by 0] [Entire Act]

State of Odisha - Section

Section 9 in The Orissa State Electricity Board Employee's Provident Fund Rules, 1965

9.

(i)A member shall, as soon as may be after joining the fund, send in writing to the Board of Trustees a nomination conferring on one or more persons the right to receive the amount that may stand to his/her credit in the fund in the event of his/her death before the amount has become payable or having become payable has not been paid :Provided that in the case of a member having a nomination shall be made in favour of one of his/her becomings a member of the fund, the nomination has no family on the date of his/her becoming a member of the fund, the nomination may be made in favour of any person or persons, but if the member subsequently acquired a family, such nomination in favour of one or more persons belonging to his/her family.(ii)A nomination shall not be partly in favour of the member's family and partly in favour of others outside his/her family.(iii)If a member nominates more than one person under Sub-rule (i) above he/she shall specify in the nomination on the amount or share payable to each of the nominees in such manner as to cover the whole of the amount that may stand to his, her credit in the fund at any time.(iv)Every nomination shall be in such one of the forms set forth in the first schedule as it appropriate in the circumstances.(v)A nomination shall be registered in the books of the Board of Trustees under advice to the member.(vi)A nomination shall take effect from the date, it is handed over to the Board for registration. No nomination shall be received for registration after the death of the member.(vii)A member may at any time cancel a nomination by sending a notice in writing to the Board of Trustees provided that the member shall along with such notice send a fresh nomination in accordance with these rules.(viii)When the nominee is a minor, the member shall name the person appointed to receive the benefit on behalf of the minor in case the amount becomes payable before the minor nominee attains majority.(ix)The signature of the member in the nomination form shall be attested by two witnesses.
(1)Member may provide in the nomination-In respect of any specified nominee that in the event of his predeceasing the member the right conferred upon that nominees shall pass to such other person as may be specified in the nomination.
(2)That the nomination shall become invalid in the event of the happening of the contingency specified thereon.Part-IV