- About Coverfox
The Employee Provident Fund, commonly called as the EPF scheme, is a saving instrument introduced under the Employees’ Provident Fund and Miscellaneous Act, 1952. This scheme was introduced to create a retirement corpus. This scheme allows subscribers to register a nominee who is the beneficiary to receive the accumulated corpus in case of demise of the subscriber. Registering a nominee for the Employee Provident Fund account is important as the corpus accumulated in the account is huge and it can act as a financial support. Most of the time, the subscribers neglect or fail to register a nominee for their EPF account. Nominating a family member is highly recommended because in case of mis-happening, your entire retirement corpus can be easily paid to the nominee. In case no nominee is registered, then your family might face a lot of problems for claiming the retirement fund. Registering a nominee for EPF account on time is advised as it will help your family in the times of crises.
Before filing a nomination for your EPF account, it is advised that you have in-depth knowledge of the EPF Nomination process. The EPF nomination rules will save your family’s time. Now-a-days, the EPF nomination can be changed online using the UAN Portal. Following are the rules related to EPF Nomination.
The EPF Nomination rules are the various terms and conditions related to the change and incorporation of the nominee. These rules and conditions help you in understanding the basic details related to the same. Using the online facility available with the EPF account will help the account holder to change, update and register the nomination as per the account holder’s wish and at any point of time.
Following is the list of rules related to the EPF Nomination.
Thus, in this manner, all EPF account holders must keep in mind the nomination rules related to registering of nominations under EPF account. Also, using the online channel for registering nominees is very hassle-free as it helps the account holder to change or update or register the nominee easily and quickly at any point in time.
The rights of the EPF nominee are limited to the receipt of accumulated EFP funds of the EPF account in case of death of the account holder. The nominee has no ownership over the accumulated EPF Fund. Upon death of the account holder, the nominee shall receive the accumulated EPF fund according to the legal heir’s law and the fund shall be distributed in the proportion that have been mentioned by the account holder.
Thus, these nomination rules emphasize on the importance of registering nomination under EPF account. Ensure that the nominee you register is your own legal heir. Failing to register a nominee for your EPF account may result in legal conflict within the family members.
If you are unsure about whether you have registered a nominee for your EPF account, then checking the EPF nomination is easy and simple. You can check your EPF nomination details online by following below given simple steps.
Thus, in this manner, any account holder can easily register or update or change the nomination details under their EPF account.
How can I change my EPF nominee?
You can change the EPF nomination either via online channel or offline channel. For changing or registering or updating the nominee details, the EPF account holder needs to fill the ‘Update Nominee Details’ form. This form is available on the EPFOs UAN portal and in any EPFO office. Any UAN account holder who wishes to change the nominee can visit the EPFOs online portal or nearest EPFO account, fill the necessary form, submit all the details and change the details of EPF nominee.
How can I check my PF nominee online?
Yes, you can check your PF nominee online in following manner-
Login to your EPFO account on the UAN portal with the help of your User ID and Password
Click on the ‘Profile’ tab and click on ‘e-nomination’ option
In this manner, you shall be able to view your PF nominations online on the EPFO portal.
How do I nominate an EPF beneficiary?
You can nominate your EPF beneficiary by submitting ‘Update Nominee Details’ either online or through offline channel. You can fill and submit the form online on the EPFO website. Similarly, in case of offline submission of form you need to fill the form and submit the same to your employer. Nomination of beneficiary via online channel is very simple and quick.