(1 ) A subscriber shall, at the time of joining the Fund, send to the Secretary through the Senior Research Officer (Administration and Legal), of the Authority, a nomination Form as specified in the Schedule-I 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 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:
Provided further that the nomination made by the subscriber in respect of any other provident fund to which he was subscribing before joining the Fund shall, if the amount to his credit in such other fund has been transferred to his credit in this Fund, be deemed to be a nomination duly made under this rule until he makes a nomination in accordance with this rule.
(2) If a subscriber nominates more than one person under sub-rule(1), he shall specify in the nomination Form 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 anytime.
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(3) A subscriber may, at any time, cancel a nomination by sending a notice in writing to the Secretary. The subscriber shall, along with such notice or separately, as the case may be send a fresh nomination made in accordance with the provisions of this rule.
(4) A subscriber may provide in a nomination –
(a) in respect of any specified nominee, 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.
Where the subscriber confers such a right on more than one person under this clause, he shall specify the amount or share payable to each of such persons in such a manner as to cover the whole of the amount payable to the nominee.
(b) that the nomination 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 only one member of the family, he shall provide in the nomination that the right conferred upon the alternate nominee under clause(a) shall become invalid in the event of his subsequently acquiring other member or members in his family.
(5) 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-rule(4) or on the occurrence of any event by reason of which the nomination becomes invalid in pursuance of clause (b) of subrule(4) or the proviso thereto, the subscriber shall send to the Secretary a notice in writing canceling the nomination, together with a fresh nomination made in accordance with the provisions of this rule.
(6) 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 Secretary.