IREC Rule No.941: Nominations

941.  Nominations:-

(1)   The Accounts Officer shall, as soon as the account is opened, invite every subscriber to make a nomination conferring the right to receive the whole or part of the amount, excluding the amount of special contribution admissible under Rule 915 that may stand to his credit in the fund in the event of his death before the amount standing to his credit has become payable, or where the amount has become payable, before payment has been made.

Provided that a subscriber who has a family at the time of making the, nomination shall make such nomination only in favor of a member or members of his, family.

Provided further that a nomination made by a 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 the Fund, be deemed to be a nomination made under this rule until he makes a nomination in accordance with this rule.

(2)   A subscriber shall, at the time of joining the Fund, make a nomination and send it, if a railway servant belongs to Group ‘A’ or Group ‘B’ to the Accounts Officer, otherwise, to his immediate superior.

(3)   A subscriber may in his nomination distribute the amount that may stand to his credit in the fund amongst his nominees at his own discretion.

(4)   A nomination made under sub-rule (2) or a declaration made before these rules came into force, may be cancelled by a subscriber by sending a notice in writing if a railway servant is in Group ‘A’ or Group ‘B’ to the Accounts Officer, otherwise, to his immediate superior.

(5)   On the marriage or re-marriage of a subscriber who is not a Hindu, Muslim, Buddhist or any other person exempted from the operation of the Indian Succession Act, 1925, any nomination already made by him shall forthwith become null and void.

(6)   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 persons as may be specified in the nomination;

(b)  That the nomination shall become invalid in the event of happening of a contingency specified therein.

(7)  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 (6) the nomination being thereon rendered partially or wholly null and void or on the occurrence of any event by reason of which the nomination becomes invalid in pursuance of sub-rule (5) or of clause (b) of sub-rule (6), the subscriber may send to the Accounts Officer an intimation of this occurrencey and may also send a fresh nomination made in accordance with the provisions of this rule.

(8)   A nomination or its cancellation shall take effect to the extent that it is valid, on the date on which it is received by the Accounts Officer or in the case of a non-gazetted railway servant on the date on which it is received by his immediate superior.

(9)      Nothing in these rules shall be deemed to invalidate a nomination duly made before these rules came into force but their validity will be subject to the provisions of sub-section (1) of Section 5 of the Provident Funds Act, 1925.