Whether it is a savings account or 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.
E-nomination facility also started
EPFO has started the facility of e-nomination to give the information of the nominee. In this, those people who do not have enrollment, they are being given a chance. After this, information like name of the nominee, date of birth will be updated online.
Gets the facility of Rs 7 lakh
EPFO members also get the facility of insurance cover under the Employee Deposit Linked Insurance Scheme (EDLI Insurance cover). In the scheme, a maximum insurance cover of Rs 7 lakh is paid to the nominee. Explain that if the member dies without any nomination, then it becomes difficult to process the claim. Let us know how you can fill the nomination details through online medium.
How to do e-nomination in EPF/EPS
Go to the EPFO website and click on ‘For Employees’ in the ‘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.