EPFO Rules: Employees’ Provident Fund (EPFO) provides many facilities to its account holders, but to take advantage of these facilities, it is necessary for PF account holders to follow some rules.
New Delhi. Be it a savings account or an FD or a bank locker, it is necessary to make a nominee. Similarly, it is necessary to make nominees of Employees’ Provident Fund (EPF) account holders. Nomination should also be done in case of EPF and EPS (Employee Pension Scheme) so that in case of untimely death of EPFO member, this fund can be made available to the nominee in time.
EPFO members also get the facility of Rs 7 lakh insurance cover under the Employee Deposit Linked Insurance Scheme (EDLI Insurance cover). A maximum insurance cover of Rs 7 lakh is paid to the nominee in the scheme. Explain that if the member dies without any nomination, then it becomes difficult to process the claim. Let us know how you can fill nomination details through online medium.
E-nomination facility also started
EPFO has now started the facility of e-nomination to give the information of the nominee. Those who are not enrolled in this, they are being given a chance. After this information like name of the nominee, date of birth will be updated online.
- How to E-Nomination in EPF/EPSGo to EPFO website and click on ‘For Employees’ in ‘Services’ section.
- Now click on ‘Member UAN/Online Service (OCS/OTCP)’.
- Now log in by entering UAN and password.
- Select ‘e-Nomination’ in the ‘Manage’ tab.
- After this the ‘Provide Details’ tab will appear on the screen, click on ‘Save’.
- Click on ‘Yes’ to update the family declaration.
- Now click on ‘Add Family Details’. More than one nominee can also be added.
- Click on ‘Nomination Details’ to announce the amount of which nominee’s share will come.
- After entering the details, click on ‘Save EPF Nomination’.
- Click on ‘e-Sign’ to generate OTP. OTP will be sent to the mobile number linked with Aadhaar.
- Submit the OTP by entering it in the specified space.
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