In case of the PF account holder's demise, the money is received by the family. For this, the person has to add a nominee.
EPF is a saving scheme that is introduced by the Employees' Provident Fund Organisation (EPFO). The EPF is also referred to as Provident Fund (PF), which is a government-backed scheme where the deduction is compulsory for salaried individuals. The employer and the employee contribute 12 per cent of the employee's basic salary each month to the Employee Provident Fund Organisation (EPFO).
This fund comes in handy after they retire from their job. After you retire, there is a provision to have a fixed income from the Provident Fund. In the event of the death of a person due to any reason, the Provident Fund money is used for the family. In case of the person's demise, the PF money is received by the family. For this, a person has to make a nominee. With this, the amount of PF is easily available to the nominee after the death.
If you have not made anyone a nominee of your PF, then you can do it easily. Earlier one had to fill the form and submit it to the PF office, but now this hassle is over and you can make a nominee through e-nomination at home.
Here is how you can fill the e-nomination online
- Visit the official EPFO website.
- Click on the Services link and then go to the 'For Employees' in the Employees option.
- Click on Member UAN / Online Services.
- You'll be asked to log in. Enter your UAN and Password and click log in.
- Click on the Manage tab and select 'e-Nomination'.
- You'll be redirected to the Provide Details window. Fill in all the required information and click on Save.
- Click on Yes for family related details and fill the family details. You can add more than one nominee.
- Now click on 'Save EPF Nomination' and click on 'e-Sign' to generate OTP.
- The OTP will arrive on the mobile number linked with Aadhaar. Enter it and click on Submit.
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