New Delhi: Nomination is crucial to ensuring that, in the tragic event of the investor’s passing, the financially dependents receive their just compensation without any issues, whether it be through a savings bank account, fixed deposit (FD), RD, EPF, PPF, mutual fund, insurance, or another method.
The relevant regulators have now made it necessary to complete the nomination section in order to have the investors exercise their choice to nominate.
In addition to making nomination necessary, initiatives are made to streamline the procedure with the aid of technology.
Following the trend, the Employees Provident Fund Organization (EPFO) has made e-nomination available to PF members and is encouraging them to use it if one is not made.
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If you want to be nominated electronically, you must meet the following criteria if you are a PF member:
Your UAN should be activated and linked with Aadhaar.
Your mobile number must be linked with Aadhaar.
You have an updated Member Profile with photo and address .
You will need a scanned photo of the nominee in JPG format (Size 3.5 cm X 4.5 cm).
Nominee Aadhaar, bank account number with IFSC & Address are also needed.
If your mobile number is different on the Aadhaar and EPF websites, you must first alter it so that it is linked to your Aadhaar in order to obtain the OTP and finish the e-nomination procedure.
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You must do the following steps to e-nominate:
Open the PF member portal (unifiedportal-mem.epfindia.gov.in/memberinterface/)
Login with UAN and password.
Select E-Nomination under Manage Tab.
On the Tab that will appear on screen, enter the required details.
Click ‘Yes’ to update Family Declaration.
Click ‘Add Family Details’ (more than one nominee can be added ).
Click ‘Nomination Details’ to declare percentage of share per nominee and then click on save EPF Nomination.
Click on E-sign to generate OTP sent on the mobile number linked With Aadhaar.
After amending your member profile, you can remove the current nominee(s) if necessary and/or add new nominee(s).
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