New Delhi: An announcement by EPFO (Employee Provident Fund Orgnaisation) comes as a big relief to its account holders and now account holders can go online even after December 31, 2021 and add a nominee. However, EPFO has suggested its members that they should necessarily go for e-nominations.
Nominee's name can be added even after December 31, 2021
EPFO has said in a tweet that EPF account holders can make someone their nominee even after December 31, 2021. According to EPFO, it is very important to file e-nominations online, which will facilitate the benefits of provident fund, pension (Employee Pension Scheme) and insurance (EDLI) after the death of the account holder and also the nominee will be able to file claims online. It will also be easier for members to settle pension claims.
Portal was not working
In fact, many users were complaining for a long time that EPFO's website was not working and hence they were not able to add the nominee's name to their EPF account. That is why the Employee Provident Fund Organisation has extended the date of e-nomination. Although even after December 31, 2021, EPF account holders will be able to do e-nomination, but EPFO did not state as to when the deadline would expire.
Members can nominate more than one nominee and also fix the percentage of sharing among all such nominees. EPF account holders can add the nominee online and to avail it, subscribers must have an active Universal Account Number (UAN) and Aadhaar details should have been seeded to subscribers' EPF account.
In May this year, EPFO hiked the maximum sum assured payable under the Employees’ Deposit Linked Insurance (EDLI) scheme to Rs 7 lakh.