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 Bihar - Section

Section 5 in Bihar Contributory Provident Fund Rules, 1948

5.

(1)A subscriber shall, as soon as may be after joining the Fund, send to the Account Officer a nomination conferring one or more persons the right to receive amount that may stand to his credit in the Fund in the event of his death before that amount has become payable, or having become payable has not been paid: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-rule (1), he shall specify in the nomination 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 credit in the Fund at any time.
(3)Every nomination shall be in such one of the forms set forth in the First Schedule as appropriate in the circumstances.
(4)A subscriber may at any time cancel a nomination by sending a notice in writing to the Account Officer:Provided that the subscriber shall alongwith such notice send a fresh nomination made in accordance with the provisions of sub-rules (1) to (3).
(5)Every nomination made and every notice of cancellation given, by a subscriber shall to the extent that it is valid, take effect on the date on which it is received by the Account Officer.
(6)Nothing in sub-rules (1) to (3) shall be deemed to invalidate, or to require to replacement by a nomination thereunder of, nomination duly made before and subsisting on the date on which these rules come into force.Subscriber's account