Doubt about my name and signature

Yes, you would have potential problems, names and signatures are a vital part of one's identity in day to day life and in important legal transactions. You need to be careful and sort this out soon. Firstly, if your name is Vinayaka Yedukondalu, your first name would be Vinayaka and your surname would be Yedukondalu, I don't see a middle name. Hence get this clarified.

Then review your SSLC marks card, birth certificate, degree certificate, PAN card, bank account, driver license Aadhar card, passport etc with respect to your name and signatures in each of them.

Based on what you already have established( your name and signature) you may have to change many documents.

If you still want to change your signatures, then you would have to inform the relevant offices via a formal request.

For instance, if your bank account has your old signature and now you want to sign as Vinayaka, you would need to submit a request letter to the bank similar to this Format of sample letter to the Bank requesting for change of signature.

Similarly, you would have to check and change for passports by filling out a form (image of a sample enclosed) and submitting it to the passport office.

Lastly, please remember that your signature has a mismatch (because of a change now) in FD deposits, land/sale deed registration documents, bank lockers and family will related documents, you would face major hurdles. So, please think twice before changing, if you do decide to change proceed accordingly based on the documents in hand with the old signatures.

My name in Lakku Vinayaka yedukondalu, and surname is lakku

Signature is unique identity of handwriting. Does not matter if you include first name or last name or both. Just make sure you keep it same all the time and it is difficult for others to make your signature. Also try to keep government document same sign as it gets difficult to change sign on government document .

As per the standard format that is followed is - Surname, name, father's name. This should be how everyone need to follow but many , especially south indians have only two names ( Self & fathers), the surname is their house name which is normally omitted, hence, they have a problem. If we follow this format everywhere, I don't think will follow such situations.
Schools & Hospitals need to use this same format which will reduce the error in the later stage. Every thing or say your certificates etc. can be corrected but try to keep the same format on all your document which is of vital importance.
If you have error in your documents, try to change it as soon as possible & try to keep the your certificate in same single formate. Changing or correction of name on certificates is time consuming but try to do it at the earliest.

Your signature, which many of us feel should be our name or surname, is not a compulsion. You can use only initial but try to be unique & should be practiced well as your signature need to be correct every time you do it. Many just use their first letter and then some words which you cannot read so just try to be original.

Atleast, now try to set a good signature, you can use any apps to get a signature & follow the same for future.

Signature is an essential item of authenticity and identity.
A signature is truly is and should be personal and unique. From practice and experience, we can see that signatures of persons vary from short symbols and designs to lengthy sketch-like affiliations.
It is better if a signature can indicate to the name either in part or in full of the person who signed. However one should ensure that it is his own, and not easy to copy by others. The signature should be preferably without many breaks and should flow smooth and continuous.

Now coming to your present issue,

Change of signature can lead to problems. However, if all the old signatures are put on not so important documents and their use is over, then probably you may no face many problems if you stick to the new signature always further and not change it.
In cases like a bank account, your employer and certain other places you can update your signature with fresh request and with identity proof and convincing and signing in person in front of the authorised officials of those organisations.

So please try to remember and evaluate where all your old signature is now existing and change them to the new one complying all due formalities. You may contact those organisations or offices for the correct procedure and formalities in this regard.

Your name is Vinayaka Yedukondalu. So it will be interpreted as Fisrt name and Last name. Sometimes last name is called surname also. Accordingly you have to mention it everywhere. It does not matter by what name people call you or your family members call you. Your name remains what it is in the documents and is your legal presentation. You can not change your name as you like. There is a long legal procedure to change name if you really wish to do so. For that you will have to make an affidavit and gazette notification and advertisement in local newspapers.

Regarding signature a person can have whatever signature he likes but it should be consistent. Your signature should not change with time arbitrarily. The reason is when you open a bank account or fixed deposit or insurance policy or any other investment, you sign the document with your signature. They will scan and keep this in their computer system. Now that signature should not change otherwise when you claim those things in future and want some change in them then you will have to again sign the related documents and if your signature differs from the original then it will be a problem as they will ask you to get it attested by a authorised person or notary public. So changing signature is not a child's play.

Name and signatures are unique to your personality. Keep them as they are.

Mr Vinayaka yedukondalu. What is your name in all the registers? What is your name in the certificate? If the name is the same in all the certificates and identity cards there will not be any problem. People may call you by any name. That is not at all an issue. What certificates say is more important. That way you can rest assured. If you want to change your name then you have to follow a particular procedure which will be done legally. For that, you have to contact a lawyer and do as per their advice.
Coming to the signature, one should not change the signature as they like. It should be the same everywhere and anywhere. So don't make any changes in that maintain the same. If you have signed anywhere you better contact the concerned and get it changed. Otherwise, it will become a complicated issue afterwards.