PF Rule Change: How To File EPF Nominations To Avail Benefits Worth Rs 7 Lakh
In June, the EPFO increased the maximum assurance benefit under the Employees’ Deposit Linked Insurance (EDLI) scheme to Rs 7 lakh
New Delhi: Here’s an important update for Employees Provident Funds (EPF) subscribers! Soon, you will need to file EPF nominations digitally to avail of benefits as the retirement fund body has updated a notification asking subscribers to file their e-nomination so that the social security of the account holder’s family can be ensured.
In this context, the retirement fund body has shared the steps through a video on the social media platform to help members file their e-nomination. “Members should file e-Nomination today to provide #SocialSecurity to their families. Follow these easy steps to file EPF/EPS nomination digitally." the EPFO said in a tweet.
Why should you file the e-nomination?
In June, the EPFO increased the maximum assurance benefit under the Employees’ Deposit Linked Insurance (EDLI) scheme to Rs 7 lakh. This insurance scheme has been made mandatory for all employees who were enrolled in the EPF. Under this scheme, the nominee would receive a payout of up to Rs 7 lakh if the employee dies due to natural causes, illness, or accident. Every organization under the EPF and Miscellaneous Provisions Act, 1952 is to be enrolled for EDLI automatically. The minimum payout for death insurance was Rs 2 lakh while the upper limit was Rs 6 lakh. This was then increased to a range of Rs 2.5 lakh to Rs 7 lakh.
Here is How To File EPF/EPS Nomination Online
Step 1: Firstly, visit the official EPFO website.
Step 2: Then click on the ‘Services’ option.
Step 3: Then click on the ‘For Employees’ section.
Step 4: Once you are redirected, click on the ‘Member UAN/Online Service’ option.
Step 5: This will redirect you to the official Member e-SEWA portal, where you need to log in. Do so using your UAN, password and captcha code for the same.
Step 6: When you reach the portal, go to the ‘Manage’ tab on the drop-down menu and select E-Nomination
Step 7: Select the ‘Yes’ option to update the family declaration
Step 8: Then click on ‘Add Family Details’ (Remember you can add more than one nominee as well to make sure multiple family members are ensured).
Step 9: You need to select ‘Nomination Details’ to be able to declare the total amount of the share.
Step 10: Once you have done that, click on ‘Save EPF Nomination’.
Step 11: After you move to the next page, click on the ‘E-sign’ option to generate the One-Time Password (OTP). This will be sent to the mobile number that is linked with your Aadhaar card.
Step 12: Insert the OTP sent to your registered mobile number.
This will complete the process of registering e-Nomination with the EPFO
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