(1) A subscriber shall, as soon as may be, after joining the Fund send to the Executive Officer a nomination conferring on one or more persons the right to receive the amount that may stand to his credit in the Fund in the event of his death, before that amount has become payable or where the amount has become payable, before payment has been made :
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 one of the Forms set forth in Schedule I as may be appropriate in the circumstances.
(4) A subscriber may at any time cancel a nomination by sending a notice in writing to the Executive Officer :
Provided that the subscriber shall, along with notice, send a fresh nomination made in accordance with the provisions of his rule.
(5) A subscriber may provide in a nomination :-
(a) in respect of any specified nominee that in the event of his predecessing the subscriber, the right conferred upon that nominee shall pass to such other person as may be specified in the nomination;
(b) that the nomination shall become invalid in the event of the happening of a contigency 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 the family.
(6) Immediate on the death of a nominee in respect of whom no special provision has been made in the nomination under clause (a) of sub-rule (5) or on the occurrence of any event by reason of which the nomination becomes invalid in pursuance of clause (b) of sub-rule (5) or the proviso thereto, the subscriber shall send to the Executive Officer a notice in writing cancelling the nomination and shall also send a fresh nomination made in accordance with the provisions of this rule.
(7) 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 Executive Officer.
[6. Personal Deposit Account. - (1) A separate interest bearing Personal Deposit Account other than as provided under Rule 11 shall be opened by the Treasury Officer on written request of each Board under the head 'Deposit Account of Municipal Board with the District or Sub-Treasury' concerned in the name of the Board/Council. An intimation of the accounts opened by the Treasury/Sub-Treasury Officer shall be given to the Examiner. A pass book shall be supplied to each account holder by the Treasury/Sub-Treasury Officer.
(2) The following shall be credited to the Personal Deposit Account opened with the District Treasury/Sub-Treasury:-
(i) subscriber's subscriptions;
(ii) interest, as provided by rule 12 on the amounts of subscriptions and contributions.
(3) The entire balance of Contributory Provident Fund Accounts of the employees for a Board comprising of their upto date subscriptions. Board's contribution, and interest accrued thereon shall be transferred to the Personal Deposit Account. Investment of existing Provident Fund in Government or Government guaranteed securities, fixed deposits and or time deposits in banks and post offices etc. available with the Board shall be endorsed in favour of the District/Sub-Treasury by the respective Board for being credited to the Personal Deposit Account concerned of the Board on maturity. Cash balance and the amount available under the post office Saving Bank Account or in other Bank Account shall also deposited in the District/Sub-Treasury for being credited in the respective Personal Deposit Accounts.
(4) The Board shall maintain Individual Provident Fund Ledger Accounts in respect of individual employees in which the monthly subscription to Provident Fund and the contribution paid by the Board shall be credited.
(5) For withdrawals from the Personal Deposit Account a separate Cheque Book shall be issued by the Treasury Officer/Sub-Treasury Officer to the Board or the Officer operating the Personal Deposit Account.]