https://www.taxtmi.com/caselaws?id=194547 Under the provident fund scheme, a nomination does not confer absolute beneficial ownership of the deceased member's credit balance. The nominee's right is limited to receiving the amount and giving a valid discharge, while the fund remains part of the estate for distribution under the law of succession. Reading the statutory protection against assignment and attachment with the family-based nomination scheme, the Court held that the word "vest" has a restricted meaning in this context. The heirs' succession rights were therefore not excluded, and the provident fund amount remained claimable by the legal heirs in accordance with succession law. en-us Fri, 22 Feb 1991 00:00:00 +0530 Wed, 13 Sep 2017 11:15:20 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=194547 Under the provident fund scheme, a nomination does not confer absolute beneficial ownership of the deceased member's credit balance. The nominee's right is limited to receiving the amount and giving a valid discharge, while the fund remains part of the estate for distribution under the law of succession. Reading the statutory protection against assignment and attachment with the family-based nomination scheme, the Court held that the word "vest" has a restricted meaning in this context. The heirs' succession rights were therefore not excluded, and the provident fund amount remained claimable by the legal heirs in accordance with succession law. Case-Laws Indian Laws Fri, 22 Feb 1991 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=194547