Employees Provident Fund Organization
Employees’ Provident Fund Organization (EPFO) provides its members the facility to add or change the nominee in the EPF account both online and offline. With proper nomination, the deposited amount and other benefits easily reach the family in case of death of the account holder. In such a situation, EPFO advises members from time to time to keep their nomination information updated.
online nomination
Online nomination facility is available only to those members whose Universal Account Number (UAN) is verified with Aadhaar. Members can enter the nominee information by logging into the EPFO portal. E-signing is mandatory to complete the process. Under this, the Aadhaar number has to be entered and the application is verified through OTP received on the mobile number linked to Aadhaar.
Whereas, for offline nomination, the member has to fill Form No. 2 and submit it to the EPFO office. In this form, information related to EPF, Employee Pension Scheme (EPS) and Employee Deposit Linked Insurance Scheme (EDLI) is entered.
What documents are required for e-Nomination?
While making online nomination, the member has to provide information like name of the nominee, Aadhaar number, date of birth, gender, address and relationship. Apart from this, the nominee’s photo also has to be uploaded, the size of which should not exceed 100KB.
If the beneficiary is a minor then information about his guardian will also have to be given. Members can also enter bank account information, although this is not mandatory. In case of more than one nominee, the total percentage of shares given to all should be 100%.
Generate Virtual ID (VID) like this
In the e-Sign process of EPFO, apart from the Aadhaar number, members can also use the 16 digit Virtual ID (VID) of UIDAI. To create VID, first go to UIDAI website. There in the Aadhaar Services section, select “Virtual ID Generator” option. After this, fill your 12 digit Aadhaar number and captcha and get OTP. After verifying the OTP, a new VID can be generated or an already generated VID can be retrieved. When a new VID is created, the old VID automatically becomes inactive.
When should nomination be updated?
According to EPFO, it is necessary to update the nomination in circumstances like marriage, birth of a child, divorce or death of the nominee. Due to this, there is no problem in settlement of claims in future and the family gets financial assistance on time.
According to the rules, it is mandatory for a married member to make his/her spouse a nominee. Whereas unmarried members, who do not have a spouse or children, can nominate any person of their choice. EPFO believes that timely updated nomination plays an important role in ensuring the financial security of the family.
