One of the most important savings that most private-sector employees have is statutory saving done in EPF
EPFO in its ongoing digitisation drive has made the e-nomination facility fully functional on its website. So, you can update the details of your nominees and assign their percentage share digitally. As EPF members can now update these details directly, it will ensure more accuracy in the succession record.
EPF members are asked to provide the nomination details at the time of joining the organisation. However, there was no facility to update the details online later on. It could only be done physically. Therefore, most of the employees willing to make changes waited to do so at the time of changing the job. The digital facility now enables you to update the nomination details as per the changing family structure as and when required, that too from anywhere.
One of the most important savings that most private-sector employees have is statutory saving done in EPF. It was introduced to help private-sector employees save a good amount of money for retirement years. In case of death of the EPFO member, it was difficult to get the claim processed. However, with the new e-nomination facility, the process of the claim settlement will be much quicker as EPFO will have all the information, which will help it process the claim quickly and transfer the proceeds digitally to beneficiaries’ bank accounts.
How to do it online
- Go to the website https://unifiedportal-mem.epfindia.gov.in
- Log in to your account using your UAN (Universal Account Number) and password
- Upon log in you will be prompted to go for re-nomination facility
- Else you can find the e-nomination facility under the ‘Manage’ tab
- It will take you to the nomination page where you can fill all the details
- You will have to upload the photographs of family members
- Once you have provided all the information of a nominee you can save the details
- You can also add new rows to add all family members and save their details
- You will then have to provide percentage share of the nomination for nominees
Be ready with documents before going online
The e-nomination facility offered on EPFO website is not only asking for nominees’ names and addresses but also various other information that includes Aadhaar number, Bank account number, IFSC code and digital photographs of the nominees. Therefore, if you are going online to update nominees’ details, make sure that you have all the information handy before you start the process.
Since the facility has only recently become functional, you may face some glitches and hangs during the process. Once these glitches are rectified, you may have a much smoother processing experience.