Employees’ Provident Fund Organization has determined the amount of interest that will be received in the PF account in the financial year 2022. It will be transferred to the account holders’ accounts as soon as possible. But first, you must finish the e-nomination process; otherwise, you will not receive several rewards.
EPFO Latest News: If you are a salaried employee, there is some excellent news for you. In fact, the Employees’ Provident Fund Organization (EPFO) would soon transfer interest for the fiscal year 2022 to its 7 crore subscribers’ accounts. Let us inform you that EPFO will pay interest at the rate of 8.1 percent this time. EPFO has computed the interest received in the PF account in the financial year 2022, according to the information. However, there is some crucial news for you in the meanwhile.
In fact, the EPFO (Employees’ Provident Fund Organization) has made e-nomination compulsory for its members. You will not be able to check your PF balance unless you do this. The account holder’s family receives social security benefits as a result of this. EPFO has been providing alerts about this on a regular basis.
Nomination through e-mail is required.
EPFO subscribers can use e-nomination to notify EPFO of nominee information, after which online information such as the nominee’s name and date of birth will be updated. EPF account holders should do e-nomination (EPF / EPS Nomination), according to EPFO’s subscribers. This allows the nominee/family members to withdraw funds from the PF, Pension (EPS), and Insurance (EDLI) accounts in the event of the account holder’s death. This allows the nominee to readily file a claim online.
Receives a loan of Rs 7 lakh.
EPFO members also have access to insurance coverage under the Employee Deposit Linked Insurance Scheme (EDLI Insurance Cover). The nominee in the scheme receives a maximum insurance cover of Rs 7 lakh. If a member dies without leaving a nomination, the claim will be difficult to complete. So, let’s look at how to fill out a nomination form online.
This is how you can perform an EPF / EPS e-nomination.
1. To make an EPF/EPS nomination, go to EPFO’s official website at https://www.epfindia.gov.in/.
2. In the Services section, go to FOR EMPLOYEES and select Member UAN/Online Service (OCS/OTCP).
3. A new page will appear, prompting you to log in using your UAN and password.
4. Go to the Manage Tab and select E-Nomination. The Provider Details tab will show on the screen once you accomplish this, and then click Save.
5. Next, choose Yes for family declaration, then Add family data (you can add multiple nominees here).
6. Click Nomination Details, then Save EPF Nomination to see the total amount shared. Click.
7. Now, click on E-sign to generate an OTP, and then enter the OTP on the registered mobile number associated with your Aadhaar card.
8. Your e-nomination will now be registered with EPFO. You won’t need to provide any hard copies after that.
There can be multiple nominees.
Let us point out that PF account users can name multiple nominees. Nomination information must be provided in accordance with the amount of money to be donated. Apart from that, you should be aware that the proprietor of a PF account can only name his or her family members as nominees. If there is no family, the person can nominate someone else, but the non-family member’s candidacy is canceled once the family is found.
Read More:- EPFO: Announced, interest money will come in the account of PF employees on this day, check soon
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