Retirement fund body Employees’ Provident Fund Organisation (EPFO) has asked all the account holders to add a nominee by 31 December and if a account holder does not add a nominee then the individual may have to forego various benefits offered by EPFO. Subscribers can add nominee online by following the certain steps as suggested by EPFO.
In the event of an untimely death of the subscriber, only nominated members will have access to the savings in the EFP. The account holder in EPFO can nominate several nominees and set the percentage for each nominee in the scenario of untimely demise.
How to add a nominee online:
Visit EPFO website >> Services >> For Employees >> Click “Member UAN/Online Service’.
Login with “UAN and Password’.
Select ‘E-Nomination’ under ‘Manage Tab’.
‘Provide Details’ Tab will appear on screen. Click ‘Save’.
Click ‘Yes’ to update Family Declaration.
Click Add Family Details’. (More than one nominee can be added)
Click ‘Nomination Details’ to declare total amount of share. Click “Save EPF Nomination.
Click ‘E-sign’ to generate OTP. Submit ‘OTP sent on mobile number linked with Aadhaar.
Meanwhile, EPFO has added 12.73 lakh net subscribers in October, registering an increase of 10.22 per cent compared to the same month last year, according to the latest payroll data. “The provisional payroll data of EPFO released on 20th December 2021 highlights that EPFO has added 12.73 lakh net subscribers during the month of October 2021,” a labour ministry statement said. According to the statement, year-on-year comparison shows an increase of around 10.22 per cent in net payroll additions in October, 2021 as compared to 11.55 lakh net subscribers added during October 2020. Of the total 12.73 lakh net subscribers added, 7.57 lakh new members have been enrolled under EPF & MP Act, 1952 for the first time.
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