Wednesday, November 30, 2022

How To File EPF E-Nomination And What Are Its Benefits

EPF Latest Updates : If you have to file e-nomination under Employees’ Provident Fund, then this news can prove to be of your use. In this we are giving you information about filing EPF e-nomination. If you file e-nomination, then you can get many benefits.

what is epf

The Employees’ Provident Fund Organization (EPFO) offers 3 major schemes with different objectives to help salaried people build a suitable retirement fund. This includes Employees’ Provident Fund (EPF), Employees’ Pension Scheme (EPS) and Employees’ Deposit Linked Insurance (EDLI) scheme. These serve as savings, pension and insurance cover respectively. The EPF scheme is a compulsory savings scheme, which was started under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952. Under the EPF scheme, the employee and the employer contribute in equal proportion to the scheme (EPF account) on a monthly basis.

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Benefits of e-nomination

Before doing e-nomination, it is very important for you to know about its benefits. The major advantage of e-nomination is that EPF enables you to withdraw the money earned from EPF, Employees’ Pension Scheme (EPS) and Employees’ Deposit Linked Insurance Scheme (EDLI) to the dependents of the employees later on to the EPF account holders.

no deadline

Employees’ Provident Fund Organization (EPFO) says that there is no deadline to file e-nomination. E-nomination is not required to be filed for filing advance claim. A family is defined as the employee’s spouse, they may have any minor children as well as adopted children. These dependents are included as nominees by the EPF member.

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e-nomination

Let us tell you that in order to provide social security benefits to the dependents of the salaried people, EPFO ​​has started the e-nomination process for the members of Employees’ Provident Fund (EPF) accounts in March 2022. EPFO members can file e-nomination using their Universal Account Number (UAN) digitally on its official website epfindia.gov.

Follow this step

  • First of all visit the official website of EPFO ​​epfindia.gov.in
  • Then select ‘For Employees’ under the dropdown menu of ‘Services’ tab on the homepage
  • Then click on the option ‘Member UAN/Online Service (OCS/OTCP)’.
  • Login to the portal using EPFO ​​UAN credentials and password
  • Click on ‘e-Nomination’ option under Management tab
  • Click on provide details and then click on ‘Save’ option
  • Click on ‘Yes’ option to update the family declaration
  • Select the ‘Nomination Details’ tab to declare the total amount of the share
  • Once done, click on the option ‘Save EPF/EDLI Nomination’
  • Then click on ‘e-Sign’ button and an OTP will be sent to your Aadhaar linked mobile number
  • After that submit the OTP received and your EPFO ​​e-nomination will be completed

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