Section 16 in Punjab State Warehousing Corporation Employees' Provident Fund Regulations, 1974
16. Nominations.
(1)Every subscriber shall, at the time of joining the fund send to the Head Office of the Corporation a nomination conferring, in the event of his death, on one or more persons, the right to receive the amount that may stand to his credit in the Fund :Provided that if at the time of making the nomination, the subscriber has a family, the nomination shall not be in favour of any person or persons other than the members of his family.(2)If a subscriber nominates more than one person under sub-regulation (1), he shall specify in the nomination the percentage of share payable to each of the nominees in such manner as to cover the whole of the amount that stand to his credit in the Fund at any time.(3)Every nomination shall be made in such one of the Forms annexed to these regulations [Appendix IV(a) & (b)] as is appropriate in the circumstances.(4)A subscriber may at any time cancel a nomination by sending a notice in writing to the Head Office of the Corporation :Provided that the subscriber shall, along with such notice, send a fresh nomination made in accordance with the provisions of this regulation.(5)A subscriber may provide in a nomination -(a)in respect of any specified nominee, that in the event of his predeceasing the subscriber, the right conferred upon that nominee shall pass to such other person or persons as may be specified in the nomination : provided that such other person or persons shall, if the subscriber has other members of his family, be such other member or members.(b)that the nominations shall become invalid in the event of the happening of a contingency specified therein; provided that if at the time of making the nomination the subscriber has no family, he shall provide in the nomination that it shall become invalid in the event of his subsequently acquiring a family;Provided further that if at the time of making the nomination, the subscriber has only one member of the family he shall provide in the nomination that right conferred upon the alternate nominee under clause (a) shall become invalid in the event of his subsequently acquiring other member or members of his family.(6)Immediately on the death of a nominee in respect of whom no special provision has been made in the nomination under clause (a) of sub-regulation (5) or on the occurrence of any event by reason of which the nomination becomes invalid in pursuance of clause (b) of sub-regulation (5) or the provision thereto, the subscriber shall send to the Head Office of the Corporation a notice in writing cancelling the nomination together with a fresh nomination made in accordance with the provision of this regulation.(7)Every nomination made and every notice of cancellation given by a subscriber shall, to the extent it is valid, take effect on the date on which it is received by the Head Office of the Corporation.
