Now Reading: Update EPF nominee after marriage, life changes for smoother claims
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Update EPF nominee after marriage, life changes for smoother claims
The Employees' Provident Fund Organisation (EPFO) allows members to update their nominee details online through the Unified Member Portal using their Universal Account Number (UAN). Employees often nominate someone when they join…
The Employees' Provident Fund Organisation (EPFO) allows members to update their nominee details online through the Unified Member Portal using their Universal Account Number (UAN). Employees often nominate someone when they join their first company and never review the details again, but life events like marriage, childbirth, divorce, or death of a nominee require an update to avoid delays in claim settlement.
A valid nomination helps the EPFO identify the person entitled to receive the EPF amount after the member's death. Without it, the family may face a more time-consuming process to establish the claim. Employees should also ensure their registered mobile number, Aadhaar, PAN, and bank account details are accurate to prevent delays.
Indian Opinion Analysis
Many salaried employees treat EPF nomination as a one-time task, but it is a legal instrument that determines who receives the accumulated corpus. Under the EPF Scheme 1952, the nominee is the person entitled to the fund, overriding a Will in most cases. The EPFO settled about 1.8 crore claims in the financial year 2023-24, and incomplete nominations are a common reason for delays. A few minutes spent on the EPFO portal after a marriage or birth can save weeks of paperwork for the family later. The next time an employee logs into the UAN portal to check their balance, they should also open the nomination tab.
Updating an EPF nominee is a simple online process if Aadhaar and KYC are linked, yet many accounts still carry outdated entries.
Source: livemint.com
This brief was synthesised by AI from the source linked above.
