Changing of nomination was done initially using Form 2 which was sent to the EPFO by the employer. The nomination can now be changed online by logging in to the UAN portal and using the UAN and password and using the “Edit Nomination Details” tab.
Here are some rules regarding nomination for EPF:
There should be nominee for every EPF account, so that the funds can be transferred in case of the member’s premature death.
There can be more than one nominee. The member can also fix the proportion of fund for each nominee.
In case of family, the member should nominate the family member. A non-family member will be considered invalid.
In case of nominations made before the marriage will be considered invalid, in case the member gets married. It is necessary to file new nominations, post marriage.
If the member doesn’t have a family at the time of nomination, anyone can be made a nominee. However, once the member has a family the nomination should be transferred to the family member. In case a minor is a nominee, the guardian should be the family member.
On the member’s death, the maturity amount will be paid to the nominee. The payment would be on the basis of stated proportion (if any).
If there is no nomination the fund would be equally distributed among family members. The major son and married daughter are not considered for such distribution.
Powered by | India's No.1 Payroll and HR Software.