The Employees’ Provident Fund Organization (EPFO), had earlier this month, issued a notice, urging PF subscribers to file their e-Nomination so that the social security of the account holder’s family can be ensured.
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“Members should file e-Nomination today to provide #SocialSecurity to their families. Follow these easy steps to file EPF/EPS nomination #digitally,” the government body tweeted along with a video that showed the step-by-step process.
Here is how you can file your EPF/EPS nomination digitally:
Step 1: Go to the official EPFO website.
Step 2: Click on the ‘Services’ option.
Step 3: Click on the ‘For Employees’ section.
Step 4: Once you are redirected, click on the ‘Member UAN/Online Service’ option.
Step 5: You will be redirected to the official Member e-SEWA portal, where you have to log in. Do so using your UAN, password and captcha code for the same.
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Step 6: Once inside the portal, go to the ‘Manage’ tab on the drop-down menu and select E-Nomination
Step 7: Select the ‘Yes’ option to update the family declaration
Step 8: Click on ‘Add Family Details’ (Keep in mind that you can add more than one nominee as well, to make sure multiple family members are ensured).
Step 9: Select ‘Nomination Details’ so that you can declare the total amount of the share.
Step 10: Once you have done that, click on ‘Save EPF Nomination’.
Step 11: After you move to the next page, click on the ‘E-sign’ option to generate the One-Time Password (OTP). This will be sent to the mobile number that is linked with your Aadhaar card.
Step 12: Insert the OTP sent to your registered mobile number.
Step 13: As you finish that, the process of registering e-Nomination with the EPFO will be complete.
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As per EPFO’s Employees’ Deposit Linked Insurance (EDLI) scheme, the maximum assurance is set at Rs 7 lakh. This means, upon death due to natural causes, illness or accident, the nominee would receive a payout of up to Rs 7 lakh. The EDIL Scheme was made mandatory as an insurance cover for all employees who were enrolled in the EPF. The limit was extended in June. Earlier, the minimum payout for death insurance was Rs 2 lakh while the upper limit was Rs 6 lakh. The minimum payout was extended to Rs 2.5 lakh. As per the Labour Ministry’s announcement, the minimum assurance benefit of the EDLI would provide for the family of the deceased employee, even if they had worked in more than one firm in the last 12 months leading up to the time of their death.
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On Saturday, the Union finance minister Nirmala Sitharaman announced that the centre will pay the provident fund (PF) share of the employer as well as the employee till 2022 for people who lost their jobs but again called back to work in small scale jobs in the formal sector whose units are registered in EPFO.