EPFO update: Retirement fund body Employees’ Provident Fund Organisation (EPFO) has asked its members/subscribers to file EPF nominations digitally to avail of benefits worth Rs 7 lakh. “Members should file e-Nomination today to provide #SocialSecurity to their families. Follow these easy steps to file EPF/EPS nomination digitally.” the retirement fund body said in a tweet and also shared a demonstration video showing the step-by-step guide on how to do it.

Worth mentioning here is that family members of EPF/EPS subscribers get family pension & insurance benefits in case of the untimely death of the member. EPFO is the country’s principal organization responsible for providing social security benefits to the organized/semi-organized sector workforce covered under the statute of EPF & MP Act, 1952.

Here’s how to file your EPF/EPS Nomination online:

1. Visit the official website of EPFO

2. Go to the ‘Services’ option

3. Click on the ‘For Employees’ section

4. Tap on the ‘Member UAN/Online Service’ option

5. e-SEWA portal will appear on your screen. Login your credentials

6. Click on the ‘Manage’ tab

7. Select ‘Yes’ to update the family declaration

8. Tap on ‘Add Family Details’

9. Click on ‘Nomination Details’ and enter the total amount of the share

10. Tap on ‘Save the EPF Nomination’

11. Generate the One-Time Password (OTP) by clicking on the ‘E-Sign’ option

12. Enter the OTP number and the process of registering is complete.

In June of this year, the EPFO increased the maximum assurance benefit under the Employees’ Deposit Linked Insurance (EDLI) scheme to Rs 7 lakh. The EDIL Scheme was made mandatory as an insurance cover for all employees who were enrolled in the EPF. Under this scheme, the nominee would receive a payout of up to Rs 7 lakh if the employee dies due to natural causes, illness or accident. Every organisation that is under the EPF and Miscellaneous Provisions Act, 1952 get enrolled for EDLI automatically. The minimum payout for death insurance was Rs 2 lakh while the upper limit was Rs 6 lakh. This was then increased to a range of Rs 2.5 lakh to Rs 7 lakh.