Moving towards Digital India, the EPFO has recently launched e-Nomination facility for filing nomination form by the EPF members. This functionality is available at Member Interface of EPFO Unified Portal. Any member having activated and Aadhaar seeded UAN (Universal Account Number), can avail this online facility.
We all know that life is short and unpredictable. In this short journey, we all take lot of investment and financial decisions. We earn, save and invest money in various financial products like; EPF, PPF, Bank Fixed deposits, real estate properties, Shares, Mutual Funds, Insurance policies etc.,
For many of us, our lives revolve around our loved ones. But, What happens to your financial assets if you meet your end unexpectedly? What will happen to your investments? Who will own your assets after you are no-more?
Death is certain. It’s a fact. No human gets to predict when or how they will meet their maker in the end, which is why ensuring the care and protection of our loved ones is one of the most important decisions we must make and execute before a tragedy befalls us.
So, how to ensure your assets are properly distributed to your loved ones?
The first thing that comes to our mind would be, Nomination. You can declare a nominee(s) for your investments and your nominee can claim the ownership of your investments or assets after your death.
Upon the death of an EPF member, the Employee Provident Fund amount is paid to the nominee that was nominated at the time of opening of the account. If there was no nominee assigned then the EPF amount is paid to the immediate members of the family.
Currently, you can submit nomination details and register your nominee(s) through offline (Form-2) only. However, in 2016, a facility to change/edit the nomination details online has been made available through the previous version of UAN portal. But, this is not an end to end online process. You have to take the print-out of the online nomination form and then have to submit it to your employer.
Hence, the EPFO has launched a new e-nomination facility. There is no need to submit the online form to your employer, this process is independent from your employer. Also, it can be e-signed through Aadhaar OTP verification and can be directly submitted to the EPFO.
To avail e-Nomination facility, your Aadhaar should have been seeded to EPF UAN and your Date of Joining (DoJ) EPF Scheme should be available in your UAN account.
How to submit EPF Account Nomination details online?
- Kindly visit Member Interface of EPFO Unified Portal.
- Login with your credentials.
- Click on ‘Manage’ menu tab and then click on E-Nomination option.
- Your profile page, with details like UAN, Name, Date of Birth, gender etc., will be displayed. You have to provide your ‘Permanent Address’ details in the relevant field and click on Save button.
- You then need to provide ‘yes’ or ‘no’ to Family Declaration. On selecting ‘having family’ – YES, you will be asked to provide ‘Add Family Member(s)’ details. You have to provide details of your family members like their names, date of birth, relation and Address.
- In the next step, you need to nominate your family member(s) for your EPF account. You can declare the ‘total amount of share (%)’ among your nominees. In case, you would like to nominate only one member of your family as your nominee then you can declare 100% as the share.
- After providing the above details, kindly click on ‘Save EPF Nomination’ button.
- You can then approve your e-Nomination form through Aadhaar e-Sign facility. Kindly click on e-Sign button to generate OTP, which will be sent to your mobile number that is linked to your Aadhaar. Kindly enter the OTP in the relevant field. Your e-Nomination gets registered with the EPFO. There is no need to send any physical document to your employer or ex-employer.
- If your EPF UAN is not seeded with Aadhaar, you will get an error as – ‘AADHAAR authentication failed. Details available against this UAN are not matching with details available with UIDAI.’ So, your Aadhaar should have been linked to EPF UAN to avail EPF e-Nomination facility. (Read : ‘How to link EPF UAN to Aadhaar online?‘)
As discussed, this new functionality is independent from employer. After giving nomination details online, member has to digitally sign the nomination. Aadhaar based eSign is being used for digital signing of nomination form. Aadhaar based eSign is being provided to members free of cost by EPFO. Only member’s mobile number should be linked with Aadhaar. This functionality will also be made available on UMANG mobile app soon.
(What is e-Sign? – eSign is an online electronic signature service in India to facilitate an Aadhaar holder to digitally sign a document. The signature service is facilitated by authenticating the Aadhar holder via the Aadhar–based e-KYC (electronic Know Your Customer) service.)
(This post is based on the very limited available information and if required, above details may be edited/updated.)
Related Articles :
- Nominee Vs Legal Heir : Who will inherit (or) own your Assets? | Importance of WILL
- How to withdraw EPF through Govt’s UMANG App?
(Post published on 27-Feb-2018)