EPFO: The Employees’ Provident Fund Organisation (EPFO) runs a pension scheme called the Pension Scheme 1995 (EPS). Under the scheme, several benefits are extended to widow/widower and children under EPS’95 scheme.
When a member dies while in service, widow/widower is entitled for minimum monthly pension of Rs 1000. In case of death of pensioner, pension to his or her widow/widower is 50 per cent of member pension.
In case of children, pension amount equal to 25 per cent widow/widower pension is given to each child subject to a maximum of 2 children at a time. Children pension is payable to two children at a time, till 25 years of age.
Follow these simple steps to submit EPF/EPS nominations digitally:
1) Visit EPFO Website >> Services >> For Employees >> Click Member UAN/Online Service
2) Login with ‘UAN and Password’.
3) Select ‘E-nomination’ under ‘Manage Tab’
4) ‘Provide Details’ Tab will appear on screen.
5) Click ‘Yes’ to update family declarations.
6)Click ‘Add Family Details’ (More than one nominee can be added).
7) Click ‘Nomination Details’ to declare total amount of share. Click ‘Save EPF Nomination’.
8) Click ‘E-sign’ to generate OTP. Submit ‘OTP’ sent on mobile number linked with Aadhaar.
E-nomination is now registered with EPFO. After E-nomination, no further physical documentation is required.
EPFO is one of the World’s largest Social Security Organisations in terms of clientele and the volume of financial transactions undertaken. At present it maintains 24.77 crore accounts (Annual Report 2019-20) pertaining to its members.
The Central Board of Trustees operates three schemes – EPF Scheme 1952, Pension Scheme 1995 (EPS) and Insurance Scheme 1976 (EDLI). The EPFO is under the administrative control of Ministry of Labour and Employment, Government of India. As per the information available on its website, it consists of offices at 138 locations across the country.