EPFO: E-Nomination Becomes Mandatory After Marriage
EPFO Update For E-Nominations
Now EPFO e-nominations become mandatory after marriage, if not done then pf amount will be stuck for a long time. The amount of Provident Fund (PF) is very essential for everyone after retirement. Life long savings of an employee is the term we can use for PF amount. It’s the hard-earned money that an employee gathers for his retirement.
E-Nominations Become Mandatory After Marriage
Now to avail of the benefits and to withdraw the PF amount one mandatory rule is issued by the government. Therefore now it is necessary to fill in the nomination details after marriage. According to the Employees Provident Fund Act 1952, the nominations are done in EPF & EPS gets automatically cancelled after marriage. So the employees will need to repeat the e-nominations process.
According to Puneet Gupta Director at EY, India “As per the Provident Fund Scheme, a fresh nomination is required by the member on his / her marriage and any nomination made before marriage shall be deemed to be invalid. This means that if you have joined the EPF and EPS before your marriage then post your marriage you will have to make a fresh nomination as the previous nomination made will be considered invalid, i.e., as if you have never made nomination.”
Also read:
CBI Booked EPFO Officials For Sharing Information With Consultants
Rules For Nominations
There is also a rule to know who the employees can nominate in their EPF accounts. The rules are different for male and female members.
- For the Male Members, the nominee can be his wife, children, his dependent parents, his deceased son’s wife and children.
- For the Female Members, nominees can be husband, children, her dependent parents, deceased son’s wife and children and mother-in-law.
What If The Nomination Is Not performed?
If the member does not nominate anyone then the entire PF amount will be divided equivalently in his family, as per the media reports. In the case of an unmarried person, his pf amount will be given to the dependent parents.
