New Delhi. Be it a bank account or a savings scheme account, declaring a nominee by the account holder is both necessary and beneficial. The same thing applies to EPF account also.
Now the Employees’ Provident Fund Organization (EPFO) has made nomination mandatory for all EPF members. EPFO deprives the EPF account holder of many of its services if he does not declare his nominee in the account. These facilities also include checking the balance of PF account.
By being a nominee, after the death of the account holder, the money goes to the person to whom the account holder wanted to give it. An account holder can also become more than one nominee. You can do online nomination (E-Nomination) in EPFO account.
E-nomination is very useful in providing PF benefits to the PF account holder and his family. Online claim and settlement of provident fund, pension, insurance benefits in case of death of a PF subscriber is possible only when e-nomination is done. If the employee has not mentioned a nominee and the employee dies, his heir has to go to the civil court to obtain succession certificate for release of PF.
Who can be made the nominee?
Actually, the rule is that the PF account holder can make nominees only for his family members. If a person does not have a family, then in that case he can also declare any other person as his nominee. After making someone else a nominee, if the family’s address is known then the nomination of the non-relative gets cancelled. An EPF account holder can make more than one nominee. If there is more than one nominee, more details have to be given. It has to be clearly stated as to how much amount is to be given to which nominee.
E-nomination is mandatory.
EPFO has made e-nomination mandatory. If a member does not do e-nomination then he cannot see his PF account balance and passbook. For e-nomination, the account holder’s UAN must be active and the mobile number must be linked to Aadhaar. The online account holder can also do e-nomination sitting at home.
This is the method of e-nomination
- Log in to the official website of EPFO, epfindia.gov.in.
- In the ‘Service’ tab, click on the ‘For Employees’ tab from the drop-down menu.
- Now log in with your UAN.
- Manage tab will appear. Select e-nomination in this.
- Now fill your permanent and current address.
- To change the family declaration, select Yes.
- Enter the nominee information and click on Save.
- Now click on the e-sign icon and proceed.
- Enter your Aadhaar number and also fill the OTP received on the registered mobile number.
- After completing this process, your nomination will now be updated.
