- Stock Markets on Monday: FII selling, US market corrections remain a pain point for domestic equities; Anil Singhvi gives trigge
- IT indices top losers on NSE, BSE this week; Tata Elxsi gained 16%, Sterlite Tech fell 24%
- RIL Q3 Result: Reliance Industries reports 41.5% jump in December quarter profit - Rs 18,549 crore
- Budget 2022 Expectations: USD14 bn warehousing industry ready with its wishlist ahead of budget
- Mutual Fund in 2021: Equity outperforms Fixed Deposit, gold loses sheen while debt schemes least favoured by millennials
EPFO e-Nomination Process: Fill nomination online to get PF, pension (EPS) and insurance (EDLI) benefits—check steps
The Employees' Provident Fund Organisation (EPFO) members must note that they can file their nomination for PF, pension (EPS) and insurance (EDLI) benefits online.
EPFO e-Nomination Process: The Employees' Provident Fund Organisation (EPFO) members must note that they can file their nomination for PF, pension (EPS) and insurance (EDLI) benefits online. The EPFO members can login to the official website of EPFO at epf.gov.in in case of any query.
See Zee Business Live TV Streaming Below:
In one of its recent tweets from the official Twitter handle, EPFO has tweeted about the benefits of filing e-nomination online. The tweet said, "Why one should file e-Nomination?"
Why one should file e-Nomination?#SocialSecurity #EPF #PF #EDLI #Pension #ईपीएफओ #ईपीएफओ @byadavbjp @Rameswar_Teli @PMOIndia @PIB_India @PIBHindi @MIB_India @DDNewslive @airnewsalerts @mygovindia @PTI_News pic.twitter.com/1fA7lYhULi
— EPFO (@socialepfo) September 24, 2021
The benefits on filing e-nomination are as follows:
1) Helps in getting Provident Fund (PF), Pension (EPS) and Insurance (EDLI) benefits easily in case of the death of the member
2) It also facilitates the nominee to file online claims
In another tweet. EPFO said, "File your e-nomination today to get Provident Fund (PF), Pension (EPS) & Insurance (EDLI) benefit online."
File your e-nomination today to get Provident Fund (PF), Pension (EPS) & Insurance (EDLI) benefit online.#SocialSecurity #EPF #PF #EDLI #Pension #ईपीएफओ #ईपीएफ@byadavbjp @Rameswar_Teli @PMOIndia @DDNewslive @airnewsalerts @PIB_India @PIBHindi @MIB_India @mygovindia @PTI_News pic.twitter.com/TuiQxTHDvJ
— EPFO (@socialepfo) September 24, 2021
In order to submit e-nomination for EPF, EPS and EDLI, the EPFO members have to follow some simple steps. They are as follows:
Step 1: One has to visit the official EPFO website at epfindia.gov.in. Then one has to choose the ' Service' option. Again, one has to choose the 'For Employees' option. Now, one has to click on 'Member UAN/ Online Service (OCS/OTP)
Step 2: Then one has go login with UAN and password
Step 3: Now, one has to select 'E-nomination' under ' Manage Tab'
Step 4: Next 'Provide Details' tab will appear on screen and one has to click on 'Save'
Step 5: One has to click on 'Yes' to update family declaration
Step 6: After this, one has to click 'Add Family Details'. It has to be noted that more than one nominee can be added
Step 7: Now, one has to click 'Nomination Details' to declare the total amount of share. Then one has to click on 'Save EPF Nomination'
Step 8: Finally, one has to click on 'E-sign' to generate OTP and submit the OTP on mobile number linked with Aadhaar
One must note that after this process, the e-nomination will be registered with EPFO. After e-nomination, there is no need to send any documents to employer or ex-employer.
Benefits of EPF
The EPFO members must be aware of the various benefits of the EPF scheme. They are as follows:
1) Accumulation plus interest upon retirement, resignation, death.
2) Partial withdrawals allowed for specific expenses such as house construction, higher education, marriage, illness and others
Benefits of EPS
The benefits under EPS scheme are as follows:
1) Monthly benefits for superannuation/ retirement, disability, survivor, widow (er), children
2) Amount of pension based on average salary during the preceding 12 months from the date of exit and total years of employment
3) Minimum pension on disablement
4) Past service benefits to participants of erstwhile Family Pension Scheme
Benefits of EDLI
The EDLI Scheme is an insurance scheme that provides life insurance benefits to all employees who are members of the Employees’ Provident Funds Scheme, 1952 or of PF Schemes exempted under Section 17 of the EPF & MP Act, 1952. The EDLI Scheme is supported by a nominal contribution by the employers (@0.5 per cent of monthly wages, up to the maximum wage limit of Rs 15,000).
No contribution is payable by the employees for availing insurance cover under this Scheme. The benefits payable under EDLI Scheme have been enhanced by the Central Government.
In case of any query and further details, the EPFO members can login to the official EPFO website at epfindia.gov.in.
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.