Canara Bank FORM OF NOMINATION UNDER THE PUBLIC PROVIDENT FUND SCHEME, 1968 from Download

Based on the provided document, here are the key points of Canara Bank PPF Form E (NF 356), which is used for registering a nomination under the Public Provident Fund (PPF) Scheme (NF_356_ASS… pp. 1-2):

• Nomination Registration: Allows a PPF subscriber to formally designate one or more individuals to receive their account balance in the event of their death (NF_356_ASS… p. 1).
• Bilingual Format: Features standard informational fields structured side-by-side in Assamese and English (NF_356_ASS… p. 1).

• Account Linkage: Captures the subscriber’s name and exact PPF Account Number (NF_356_ASS… p. 1).
• Detailed Mapping Table: Collects the full name, complete residential address, date of birth (mandatory if the nominee is a minor), and the specific proportionate share percentage allocated to each beneficiary (NF_356_ASS… p. 1).

• Guardian Appointment: If any named nominee is a minor, the subscriber must explicitly designate a legal guardian (including their full name and address) (NF_356_ASS… p. 1).
• Payout Authority: This appointed guardian is authorized to collect the account funds if the subscriber passes away while the nominee is still a minor (NF_356_ASS… p. 1).

• Nominee Preference: The subscriber explicitly agrees that if a simultaneous claim occurs between the nominee and legal heirs, the bank is legally discharged by settling the claim solely in favour of the nominee (NF_356_ASS… p. 2).
• Court Order Precedence: The bank reserves the right to override standard nomination terms and act strictly in accordance with any specific court orders issued regarding the PPF account (NF_356_ASS… p. 2).

• Subscriber Validation: Requires the physical signature or thumb impression of the primary subscriber (NF_356_ASS… p. 2).
• Witness Verification: Demands the signature, name, address, and date from an independent witness to authenticate the subscriber’s execution (NF_356_ASS… pp. 1-2).
• Official Account Ledger: Final registration requires the bank’s Accounts Officer to sign and date the document, certifying that the nomination has been recorded in the bank’s system and entered into the subscriber’s physical passbook (NF_356_ASS… p. 2).

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