Canara Bank Form F – For cancellation/variation of nomination/legal heirs under PPF Scheme
Canara Bank Form F – For cancellation/variation of nomination/legal heirs under PPF Scheme from Download
Based on the provided document, here are the key points of Canara Bank Form F (NF 155), which is used for the cancellation or variation of a nomination under the Public Provident Fund (PPF) Scheme (NF 155 – A… p. 1):
Core Form Purpose
- Nomination Update: Used explicitly by a PPF subscriber to cancel an existing nomination or substitute it with a new one (NF 155 – A… p. 1).
- Regulatory Compliance: Governed under sub-paragraph (3) of paragraph 12 of the Public Provident Fund Scheme (NF 155 – A… p. 1).
- Bilingual Format: Structured with side-by-side text fields in Assamese and English (NF 155 – A… p. 1).
Subscriber & Change Tracking
- Account Linking: Requires the subscriber’s name and exact PPF Account Number (NF 155 – A… p. 1).
- Historical Reference: The subscriber must state the exact date of the original nomination that is now being overridden or voided (NF 155 – A… p. 1).
New Nominee Matrix
- Exclusive Entitlement: Declares that on the subscriber’s death, the newly named individuals become entitled to the funds to the exclusion of all others (NF 155 – A… p. 1).
- Detailed Mapping Table: Collects the nominee’s full name, complete residential address, date of birth (mandatory for minors), and the specific proportionate share percentage allocated to each person (NF 155 – A… p. 1).
Minor Protection Clause
- Guardian Appointment: If any new nominee is a minor, the subscriber must explicitly appoint a separate legal guardian (providing their name and full address) (NF 155 – A… p. 2).
- Payout Authority: This designated guardian is authorized to receive the fund balance if the subscriber passes away while the nominee is still a minor (NF 155 – A… p. 2).
Execution & Verification
- Signatures Required: The subscriber must provide a signature or a verified thumb impression along with their current residential address (NF 155 – A… p. 2).
- Witness Attestation: Requires two independent witnesses to provide their signatures, names, and addresses to validate the request (NF 155 – A… p. 2).
- Bank Ledger Entry: Final processing requires an official Accounts Officer’s signature to certify that the variation has been formally updated in both the bank ledger and the subscriber’s physical passbook (NF 155 – A… p. 2).
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