Section 27(2) in State Bank of India Employees Provident Fund Regulations, 2015
(2)When the member leaves no family -(a)if a nomination made by the member in accordance with these regulation in favour of any person or persons who is or are a dependant or dependants of the member, subsist, the amount standing to his credit in the Fund or, as the case may be, the part thereof to which the nomination relates, shall become payable to his nominee or nominees in the proportion specified in the nomination;(b)If any such nomination subsists in favour of any person who is not a dependant, the amount standing to his credit in the Fund or, as the case may be, the part thereof to which the nomination relates, shall become payable to such nominee if the amount does not exceed five thousand rupees;(c)if no such nomination subsists, or if such nomination relates only to a part of the amount standing to the credit of the member in the Fund, the whole or, as the case may be, the part thereof to which the nomination does not relate, shall become payable to any person appearing to the trustees to be otherwise entitled to receive it, if the whole sum or, as the case may be, the part thereof, does not exceed five thousand rupees;(d)any sum or any part thereof which is not payable to any person under sub-clause (a) or sub-clause (b) or sub-clause (c), shall become payable to any person on production of probate, letters of administration or a succession certificate in accordance with the provisions of section 4 of the Provident Funds Act,1925.Note : When a nominee or other person is a dependant of the member, the amount payable to such nominee or other person under these regulation vests in the dependant under sub-section (2) of section 3 of the Provident Fund Act, 1925.Explanation. - For the purposes of this regulation, "Dependant" means a dependant of the member as defined in clause (c) of section 2 of the Provident Funds Act, 1925.(e)Notwithstanding anything contained in this regulation, on the death of a member, who is under a liability incurred by him to the Bank, the trustees may pay to the Bank out of the balance at his credit in the Fund any sum due by him to the Bank (not exceeding in any case the sums contributed by the Bank to his account in the Fund and any interest credited to his account on the sums so contributed) before making payment under this regulation.
