Aug 302016
 

PPF Form F (Changing nomination information)

Now that you are reading this article, we will make a couple of assumptions. These assumptions will be:

  • You already know about PPF and you have a PPF account or you are planning on opening one.
  • You need to know how you can change the nomination in a PPF account.

The question here is, ‘why would you want to change the nomination?’ There can be a number of reasons for the same. For instance:

  • One of the nominees you selected died.
  • You no longer see a person as a fit one to be your nominee.
  • You are possibly no longer in good terms with one of the persons you appointed as a nominee.
  • May be you want to redo the percentage of money you allocated for your nominees.
  • Perhaps you simply want to update the information about or or more nominees.
  • In case your nominee is a minor, you may wan to update the information of the legal guardian who will take control of the money for an interim period until the minor becomes an adult in and unfortunate event of your death before the PPF account matures and the nominee is still a minor.

Whatever the reason may be, the need for changing nomination information may just show up. If anything like that happens, what are you supposed to do?

Good News:

  • Changing nomination information is possible.
  • Nomination information can be changed anytime during the whole tenure of the PPF account.
  • Changing nomination information is simple and there is no complex procedure in place.

Bad News:

  • You will have to fill up a specific form and fill it up.
  • You will have to manually visit the bank or post office where your PPF account is located and submit the form.
  • You will to appropriately select the form provided by your bank or the post office because the form from one organization will not be accepted by another organization.

Good News:

  • The nomination form for each organization – a bank or a post office is available online.
  • You can download the form, take a print out and fill it you. You don’t need to go to the bank or the post office manually to collect the form.

All about PPF Form F

Okay, now that we know that changing nomination information in a PPF account is not difficult, let us take a detailed look at the form that is used for this purpose. This form is known as Form F. There are several elements of this form and we will take a look at each element of Form F with proper explanation in a tabular format.

Elements of Form F Explanation for each element if required
Account Number The PPF account number is to be furnished on the very top of the form in the heading section. This is mandatory.
Date and Addressing Under the header is the place where you need to put to date on which the application is being made. On the right will be the addressing section. This section actually means that you will have to address the agent or manager or official of the bank or the post office where your PPF account is located.
Declaration This is where you will have to declare that you – the subscriber – wants to cancel or alter the nomination information that was previously submitted for the PPF account number you hold. This means that you have to give three information. First, your name. Second, your PPF account number and third, the date on which the previous nomination(s) was made.
New list of nominees In case you wish to cancel all previous nominations or just alter some information like change in details of the nominees, percentage of money they should get etc., you need to make use of the table that is given below the declaration section. If only alterations are made, make sure that you maintain the same order as your previously used and then change whatever information you want to change. If you are providing a fresh list of nominees, you can use any order you want to.
In case of minor nominee If you appointed a minor as a nominee and you want to change some information about the legal guardian, the next section is to be used only in that case. However, if the nominee changes but the legal guardian is not changing, there is no need to use that section. Also remember that if you are actually changing the nominee but not the legal guardian, you should place the name of the nominee in the same serial number oder as before. Simply put, if the minor nominee was in serial no. 3 in previously submitted nomination form, make sure that in this new form too, the name of the minor nominee is put in serial no. 3.
Witness information In case you are changing the nominees or making changes in information of the nominees previously appointed in presence of witnesses, you need to use this section. Witnesses are not mandatory but can be used. The name and address of both witness should be provided and also the witnesses will have to provide their signatures.
Your signature You will have to provide your signature. In case you wish to use your thumb impression, you are free to do so as well. However, thumb impression is usually for uneducated people who cannot write and cannot sign.
Accounts office use This is the final section which will clearly state that the section has to be used only and only by the accounts office. This section is meant for official use and you are not supposed to do anything here. The accounts office will make a declaration here that the changes or alterations have been duely noted in PPF passbook and the ledge. The officer needs to put a date an his/her signature.

Now that is pretty much everything about PPF Form F. In case you have anything to add or in case you have any question, feel free to inform us through our comments section. We will be glad to answer or respond to your query or information.

Other Articles

 Leave a Reply

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>

(required)

(required)