EPFO: Many employees across the country contribute to the Provident Fund (PF) account. The amount deposited by the employee in the PF account, the same amount is deposited in the PF account by the organization of the employee. This amount contributes a lot to the secure future of the employee and his family.
New Delhi: EPFO: Many employees across the country contribute to the Provident Fund (PF) account. The amount deposited by the employee in the PF account, the same amount is deposited in the PF account by the organization of the employee. This amount contributes a lot to the secure future of the employee and his family. It is operated by Employees’ Provident Fund Organization (EPFO). Now there is important news for the subscribers associated with EPFO.
E-nomination of PF account mandatory
It is mandatory for them to do e-nomination of their PF account. Actually, EPFO has made e-nomination mandatory for all account holders. There are many benefits of e-nomination and failing to do so may deprive the account holder from availing many facilities related to EPFO.
There may be trouble in withdrawing money
The central government has made it mandatory for all account holders to file e-nomination. Under this, the employee can make any member of his family as his nominee. If the employee does not do this, then in the event of the death of the employee due to any reason, his family may have to face a lot of trouble to withdraw the amount deposited in the PF account.
According to media reports, a special campaign is being run by EPFO for e-nomination. If you have not yet done e-nomination of your PF account, then do it as soon as possible. Otherwise you may be deprived of many facilities.
Know the benefits of PF e-nomination
The advantage of e-nomination is that you can give social security to your family and your family will not have to face financial problems in your absence.
May be denied access to passbook
If you do not file e-nomination of your PF account, you may be denied access to the passbook of your PF account. Also, your family may be deprived of the benefits of Employee Deposit Linked Insurance Scheme (EDLI). Under this, the nominee gets an insurance amount of Rs 7 lakh on the death of the employee.
