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Employees’ Provident Fund is a kind of social security scheme intended to promote retirement savings for employees across India. Here, an employee contributes a part of his or her salary every month towards the fund. The employer will also contribute a matching figure towards the fund. The contribution, together, forms a corpus, and the employee can withdraw from it at the time of retirement or in the event he or she is unemployed for a period of two straight months after leaving a job. Under the Employees’ Provident Fund Scheme, 1952, every employee is required to nominate member(s) to the EPF account. This way, in the event of a subscriber's demise, the nominated individual(s) can withdraw from the funds accumulated in the EPF account. For the purpose of making a nomination and declaration, the employee is required to fill up and submit Form 2.
The contents of EPF Form 2 are as follows:
I hereby nominate the person(s) /cancel the nomination made by me previously and nominate the person(s) mentioned below to receive the amount standing to my credit in the Employees’ Provident Fund in the event of my death:
I hereby furnish below particulars of the members of my family who would be eligible to receive widow/children pension in the event of my death.
Certified that I have no family, as defined in para 2(vii) of Employees’ Pension Scheme, 1995 and should I acquire a family hereafter I shall furnish particulars thereon in the above form.
I hereby nominate the following person for receiving the monthly widow pension (admissible under para 16 2(a)(i) and (ii) in the event of my death without leaving any eligible family member for receiving Pension.
Certified that the above declaration and nomination has been signed/thumb impressed before me by Shri/Smt./Kum._ employed in my establishment after he/she has read the entries/entries have been read over to him/her by me and got confirmed by him/her.
Signature of the employer or other authorized Officers of the establishment
Name & Address of the Factory/Establishment or Rubber Stamp Thereon
The nomination under the EPF Scheme is applicable for EDLI Scheme as well.
A member who has registered his or her UAN at the unified EPF Member Portal can file the online nomination form. The following steps have to be followed to complete this process:
What is EPF Form 2?
EPF Form 2 is a nomination and declaration form. It allows the nominee(s) listed by the employee to make a claim to the accumulated funds in the employee's EPF account should he or she unexpectedly pass away.
How will the P.F. amount be paid if a member has not nominated anyone?
According to Para 70 (ii) of EPS Scheme, 1952, the P.F. amount will be payable to the family members in equal portions. In case there is no eligible family member then it becomes payable to the person who is legally entitled to it.
To whom will the pension amount be payable if there is no valid nomination and the member has no family?
The pension amount will be paid out to the dependant parents (first the dependant father, followed by dependant mother).
Can an unmarried person nominate somebody from outside?
Yes. But if the unmarried individual were to get married, the previous nomination will be treated as invalid and the benefits shall become payable to the spouse and children, if any.
What are the modes available for EPF nomination?
A member can place nomination request both online and offline.