EPF Form 2 (Revised)PROCESS FOR FILING OF ONLINE NOMINATION FORM

EPF Form 2 (Revised)PROCESS FOR FILING OF ONLINE NOMINATION FORM

EPF, or Employees’ Provident Fund, is a social security scheme with contributions from employees and employers. Using EPF Form 2, employees can nominate beneficiaries to receive the funds in case of their untimely demise. Through EPF Form 2, employees can file a nomination, ensuring that the designated individual receives the accumulated funds in the event of the employee’s untimely demise. FDs can complement PF contributions for goals like education, down payments, or retirement.

Given below is a brief overview of the EPF form 2:

Filling e-nomination ensures your EPF benefits are directed to your chosen beneficiaries. You can utilise the EPF Form 2 nomination online feature for convenience. Given below are the steps to fill e-nomination online:

• Log in to the EPF member portal using your UAN and password.
• Navigate to the “Manage” section and click on the “e-Nomination” option.
• Update your permanent and current address in your profile and save the information.
• Select whether you have immediate family or not.
• Fill in the details of your family members, including Aadhaar number, name, gender, date of birth, relation, guardian’s details (for minors), and address.
• Save the family details and use the “Add Row” option if you have more nominees.
• Select nominees from the list and allocate the total amount share for each nominee.
• Click on “Save EPF Nomination Form” to complete this nomination process.
  

Necessary details for filling PF Form 2

In order to include a nominee in your EPF account, Form 2 plays a crucial role under the Employees’ Pension and PF schemes. Ensuring accurate and complete information is essential. Here are the details required to fill out Form 2:

1. Member’s information:

• Full name of the member
• Date of birth
• Father’s name
• Permanent address

2. Nominee’s information:

• Name of the nominee
• Date of birth of the nominee
• Complete address of the nominee
• Member’s relationship with the nominee
• Portion of the PF amount allocated to each nominee

3. Dependency details:

• If the member does not have any dependent family or parents (as defined in para 2(g) of the Employees Provident Fund Scheme 1952), then relevant sections should be omitted.

4. Minor nominee information:

• If the nominee is a minor, then the member must provide details of the guardian who will receive the PF amount on their behalf

5. Subscriber’s signature:

• A valid signature from the subscriber is necessary for authentication

6. Pension information:

• Information about family members eligible for children or widow’s pension in the event of the member’s demise

7. Employer/authorised officer’s signature:

• Authentication by the employer or an authorised officer

8. Factory/establishment details:

• Name and address of the factory or establishment associated with the EPF account
  

Guidelines for nominating family members using EPF form 2

If you are a married employee with dependent parents, or if you have individuals who are financially reliant on you, you have the option to nominate one or more family members using EPF Form 2.

Consider the following key points when choosing to nominate family members through EPF Form 2:

A. In employees’ provident fund scheme

1. For male employees:

• Nominate your wife
• Nominate dependent parents
• Nominate your children
• Nominate the widow of your son and her children

2. For female employees:

• Nominate your husband
• Nominate dependent parents
• Nominate your children
• Nominate your husband’s dependent parents
• Nominate the widow of your son and her children

B. In employee’s pension scheme

Define your family in the Employee’s Pension Scheme as:

• Spouse of the employee
• Minor son and unmarried daughter of the employee
• Adopted son/daughter (adopted before the employee’s death)

Important points to remember while nominating family members

• Subscribers can change their nominations at their discretion
• Nominations should be in favour of one or more family members
• If a member has no family, they can nominate anyone
• Multiple family members can be nominated with a defined percentage for each
• Minimum 10 years of eligible service entitles the employee to a pension
• If the employee has family members, nominations cannot be made outside the family
• Once an unmarried member marries, they must file a fresh nomination again

Conclusion

EPF Form 2 allows employees to nominate beneficiaries for their EPF accounts, ensuring funds are allocated to the chosen nominees in case of their demise. It can be completed online or offline, and details such as nominee information and member details are required. Using EPF Form 2 helps secure the financial future of the employee’s dependents.

While EPF Form 2 ensures a safety net for your family in case of an unfortunate event, it is crucial to consider additional financial instruments. Fixed deposits can be a smart solution. They offer competitive interest rates and flexible tenures, allowing you to grow your savings and build a buffer for your family’s future.

Frequently asked questions