Retirement fund body Employees’ Provident Fund Organization (EPFO) has asked all account holders to add a nominee by December 31 and if an account holder does not add a nominee then the individual may have to forego various benefits offered by the EPFO. Subscriber can add nominee online by following few steps as suggested by EPFO.
In case of untimely death of the subscriber, only the nominated members will have access to the savings in the EFP. In EPFO, the account holder can nominate multiple nominees and can set the percentage for each nominee in case of untimely death.
How to add nominee online:
Go to EPFO website >> Services >> For Employees >> Click on “Member UAN / Online Service”.
step 2
Login with “UAN and Password”.
step 3
Select ‘e-Nomination’ under ‘Manage Tab’.
step 4
The ‘Provide Details’ tab will appear on the screen. Click ‘Save’.
Step 5
Click on ‘Yes’ to update the family declaration.
Step 6
Click on ‘Add Family Details’. (More than one nominee can be added)
Step 7
Click on ‘Nomination Details’ to declare the total amount of shares. Click on “Save EPF Enrollment”.
Step 8
Click on ‘e-Sign’ to generate OTP. Submit the ‘OTP’ sent to the mobile number linked to Aadhaar.
Meanwhile, as per the latest payroll data, EPFO added 12.73 lakh net subscribers in October, registering a growth of 10.22 per cent over the same month last year. “The provisional payroll data of EPFO released on 20th December 2021 shows that EPFO has added 12.73 lakh net subscribers in the month of October 2021,” a labor ministry statement said. According to the statement, the 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 customers added during October 2020. Of the total 12.73 lakh net subscribers, 7.57 lakh were added. New members have been nominated for the first time under the EPF and MP Act, 1952.
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