EPFO Insurance: Just do this work in PF account, you will get Rs 7 lakh facility
Newz Fast, New Delhi: If you are a job profession then there is good news for you. The Employees' Provident Fund Organization has announced an interest rate of 8.1 percent.
However, till now the interest for the financial year 2022 is not visible in the subscriber's account. It has been said by EPFO that no customer will suffer any loss of interest.
Interest is being credited in the accounts of EPF subscribers. But, due to software upgrade, it is not visible in the passbook.
Will not get this facility
Actually, the Employees' Provident Fund Organization (EPFO) has made e-nomination mandatory for its subscribers.
If you do not do this then you will not be able to check your PF balance. With this, the family of the account holder gets social security. EPFO has been continuously issuing alerts regarding this.
E-nomination is mandatory
EPFO is giving the facility of e-nomination to its subscribers to inform the nominee information, after which online information like name of the nominee, date of birth will be updated.
EPFO has told its subscribers that the EPF account holder should do e-nomination (EPF / EPS Nomination).
By doing this, it helps the nominee / family members to withdraw money related to PF, Pension (EPS) and Insurance (EDLI) in case of death of the account holder. With this, the nominee can easily claim online.
Get a facility of Rs 7 lakh
EPFO members also get the facility of insurance cover under the Employee Deposit Linked Insurance Scheme (EDLI Insurance Cover). A maximum insurance cover of Rs 7 lakh is paid to the nominee in the scheme.
If the member dies without any nomination, then there are difficulties in processing the claim. So let's know how to fill nomination online.
This is how you can do e-nomination in EPF / EPS
For EPF/EPS nomination, first go to the official website of EPFO https://www.epfindia.gov.in/
Now here in Services section click on FOR EMPLOYEES and click on Member UAN/Online Service (OCS/OTCP)
Now a new page will open on that login with UAN and password
Select E-Nomination under Manage Tab. By doing this, the Provide Details tab will appear on the screen, then click on Save.
Now click on Yes for family declaration, then click on Add family details (Here you can add more than one nominee.
Here click on Nomination Details for total amount share, then click on Save EPF Nomination.
Now click on E-sign to generate OTP here, now enter OTP on registered mobile number linked in Aadhaar.
By doing this, your e-nomination gets registered with EPFO. After this you do not need to send any hard copy document.
There can be more than one nominee
Let us tell you that PF account holders can also make more than one nominee. Nomination details have to be given according to how much amount is to be given in this.
Apart from this, you should know that the PF account holder can only make his family members as nominees. If there is no family, then there is the freedom to nominate another person, but the nomination of the non-family member is canceled after the family is found.