EPF Form 2

What is EPF Form 2?

EPF Form 2 is a nomination form that allows members of the Employees’ Provident Fund Scheme to nominate their family members or legal heirs to receive the EPF and Employees’ Pension Scheme (EPS) benefits in case of the member’s demise. The form plays a crucial role in ensuring the rightful nominees smoothly receive the financial benefits of an EPF account holder.

Key Points About EPF Form 2

Employees use EPF Form 2 to declare nominees for the Provident Fund (PF) and Employee Pension Scheme (EPS).
It consists of two main sections: Part A (EPF proceeds) and Part B (EPS proceeds).
Employees must update the nomination in case of changes in family status, such as marriage.
A member can nominate multiple beneficiaries and define the percentage of the amount each nominee will receive.
Employees must submit the nomination through the EPF Member Portal or offline.

Structure of EPF Form 2

The PF Nomination Form 2 consists of the following sections:

Part – A (EPF Proceeds)

This section requires details of the nominees for the Provident Fund balance.
The nominee(s) must be family members as per EPF guidelines.
If the member does not have a family, he/she can nominate anyone but must update the form upon marriage.
The form allows specifying multiple nominees with the percentage of allocation.

Part – B (EPS Proceeds) (Para 18)

This section applies to Employee Pension Scheme (EPS) benefits.
It requires details of family members eligible to receive the EPS benefits.
If the member has minor children, they can appoint a guardian to manage the pension proceeds.
The nominee must be a family member, as per EPS rules.

Guidelines to Nominate Family Members via EPF Form 2

In the Employees’ Provident Fund Scheme

The nominee must be a family member.
If a member has no family, they can nominate anyone, but they must update the nomination after marriage.
If there are multiple nominees, the member should specify the distribution percentage.

In Employees’ Pension Scheme (EPS)

The nominee must be from the family of the EPF account holder.
Minor children’s pension is assigned to the legal guardian until they reach adulthood.
If the member has no eligible family, EPS benefits will be transferred to the legal heirs.

You may also want to know the IDBI Bank Senior Citizen Savings Scheme

How to Fill e-Nomination?

EPF members can file nominations online using the EPF Member Portal linked with the Universal Account Number (UAN).

Steps to File EPF e-Nomination Online

Login to the EPF Member Portal using UAN and password.
Go to the ‘Manage’ section and select ‘E-Nomination’.
Enter the required family details and save them.
Add nominees and define the percentage share.
Generate OTP and authenticate the nomination using an Aadhaar-linked mobile number.
Submit the nomination.

How to File Nomination Offline?

Members who prefer offline nomination can submit a duly filled EPF Form 2 to their employer, who will forward it to the EPFO.

Steps for Offline Submission

Obtain a physical copy of EPF Form 2 from the employer or download it from the EPFO website.
Fill in the required details under Part A and Part B.
Sign the form and get the employer’s attestation.
Submit the completed form to the EPFO office via the employer.

Things to Remember When Nominating Family Members

Update the nomination whenever the family structure changes, such as marriage, the birth of a child, or divorce.
A single nominee or multiple nominees can be assigned to EPF and EPS separately.
Nomination can be modified anytime using the EPF Member Portal.
A guardian must be appointed if minors are nominated.

You may also want to know the Indian Overseas Bank National Pension Scheme

Documents Required

To complete the EPF Form 2 nomination process, the following documents are required:

Aadhaar card of the EPF member
Aadhaar card of the nominees
UAN (Universal Account Number)
Bank details of the nominees (for direct benefit transfer)
Guardian details (if applicable) for minor nominees

Conclusion

EPF Form 2 is an essential document that ensures the financial security of the family members of an EPF account holder. By filing nominations correctly, members can guarantee a hassle-free transfer of their EPF and EPS benefits to their legal heirs. The option to file nominations online through the EPF Member Portal has simplified the process, making it more convenient for employees. It is important to keep nominations updated, ensuring that the right beneficiaries receive the intended benefits.

Frequently Asked Questions

What is EPF Form 2 used for?

EPF Form 2 is used for nominating family members or legal heirs for EPF and EPS benefits in case of the member’s demise.

Can I nominate someone outside my family for EPF benefits?

If you do not have a family at the time of nomination, you can nominate any individual. However, upon marriage, you must update the nomination to include family members.

How do I update my EPF nomination online?

You can update your EPF nomination through the EPF Member Portal by logging in with your UAN and password.

Is it mandatory to file a nomination for an EPF account?

Yes, filing a nomination is mandatory to ensure the smooth transfer of EPF and EPS benefits to the rightful heirs.

Can I change my EPF nominee later?

Yes, EPF nominees can be changed anytime by submitting a new nomination via the EPF Member Portal or through an offline submission.

Is Aadhaar mandatory for e-nomination?

Yes, Aadhaar is required for both the EPF member and the nominees to complete the e-nomination process.

Can I submit EPF Form 2 offline?

Yes, EPF Form 2 can be submitted offline to the employer, who will then forward it to the EPFO.

What happens if I don’t submit a nomination?

If no nomination is submitted, the EPF and EPS benefits will be distributed among legal heirs as per government rules, which may lead to delays.

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