When it comes to maximising the use of a financial product, the nomination is critical. Almost all financial sectors, including bank accounts, mutual funds, provident funds, and life insurance plans, allow you to add a nominee. Let’s come to the main question i.e. what is e nomination in EPFO? The electronic submission of nominations by Employees' Provident Fund (EPF) members is referred to as the "e-nomination" process in Employee Provident Fund Organisation, or EPFO. Read on to get more information.
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What is e nomination in UAN?
EPO is a legally recognised organisation in India that reports to the Ministry of Labour and Employment. Members have been asked to add e-nominations by the EPFO.
In the case of an unexpected death of the account holder, the e-nomination assists in transferring all the benefits of the EPF account holder to the designated beneficiary without any complications or legal problems.
The accrued amount from the account holder's EPF, Employees' Pension Scheme (EPS), and Employees' Deposit Linked Insurance Scheme (EDLI) can be accessed by the nominee(s) online.
It also enables employees to change, revise, or withdraw their nominations as needed.
You must have the nominee's name, image, date of birth, and Aadhaar card number in order to submit an EPF e-Nomination.
According to PF law, your sisters and brothers are not regarded as family members. In simple words, you are unable to designate them as your PF beneficiary.
I hope you found this helpful. If you have any queries regarding this, you can drop them in the comment section below.
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What is e Nomination in EPFO?
Balagovind
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2023-07-12T17:46:27+00:00 2023-07-13T05:58:15+00:00Comment
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