EPF Account holders : One mistake can lead to loss of PF, pension and insurance worth Rs 7 lakh! EPF people must read this update

EPFO: Most of the work related to Provident Fund is now being done online. Whether you want advance money of PF or want to make full and final settlement or death claim in case of death of the employee, all the facilities will be available sitting at home. But, if you make one mistake then everything can go out of hand.

EPF Subscribers: Employees Provident Fund, a money which can be useful in time. Most of the work related to provident fund is done online. Claim settlement has become quite easy.

Whether you need advance money of PF or want to make full and final settlement or there is an issue related to death claim on the death of an employee, all the facilities can be availed at one click. But, if you commit any mistake, your PF money, pension or the EDLI insurance of Rs 7 lakh received at the time of death can all be lost. Let us know why?

Employees Provident Fund account holders are getting many facilities under Digital India Program. One of these is e-nomination. If you have not filed your nomination yet then do it quickly. Without e-nomination, your provident fund account will not be operative.

E-nomination is necessary

EPF subscribers can file e-nomination sitting at home. Members can make a family member a nominee on the online portal. It is necessary to make a nominee. On the death of the employee, the nominee can file a claim of Rs 7 lakh under Provident Fund (PF), Pension (EPS) and EDLI Insurance Scheme through e-nomination sitting at home. According to EPFO, it is mandatory for every member of Employees Provident Fund Scheme (EPF) and Employees Pension Scheme (EPS) to do e-nomination.

Who can be made the nominee?

In nomination, a family member like parents, husband-wife, brother-sister or any other eligible member of the family can be made a nominee. With the name and details of the nominee, provident fund money, pension money or insurance money can be claimed in the event of the death of the employee. The maximum limit for insurance provided by EPFO is Rs 7 lakh.

Pension and death claim will be claimed only after e-nomination

According to EPFO, for nomination, earlier the employee had to fill Form-2 in hard copy and submit it to the EPF office. But, under the Digital India Program, now a family member can be made a nominee through the e-seva portal. This can be done online. Pension and death claims will be settled only when e-nomination is done in the member’s account.

What are the benefits of e-nomination?

•  The hassle of going to EPFO office is over.
• Eliminates the need for excessive documentation.
•  More than one member of the family can be made a nominee. They will get equal amount.
•  Nominee can be changed anytime. Can add new member.
•  After the death of the employee, the nominee can make an online claim through e-nomination.

How to do EPF e-nomination?

• Go to Member e-Seva portal www.unifiedportal-mem-epfindia.gov.in.
•  Log in through UAN and password.
• Upload passport size photo in View Profile option.
•  Go to Manage section and click on e-Nomination.
•  Enter nominee’s name, Aadhaar number, photo, date of birth, bank account number.
• Click on e-sign on the next page and generate OTP through Aadhaar.
•  Enter the OTP received on the mobile linked to Aadhaar.
•  Your e-nomination will be filed.