Nominations can be filed after December 31 for EPF account holders: EPFO

Nominations can be filed after December 31 for EPF account holders: EPFO Account holders can add candidates to their Employees Provident Fund (EPF) accounts even after December 31, according to the Employees Provident Fund Organization (EPFO), the retirement fund's governing body. However, the retirement fund authority asked its account holders to perform e-nomination as soon as possible in a tweet. It was previously reported that the deadline for adding nominees by e-nomination would be December 31. It's worth noting that only nominated members get access to EPF savings in the event of a subscriber's untimely death. Subscribers can nominate several nominees and set the percentage of each nominee's share of the prize pool. EPF account holders can add a nominee online, but they must have an active Universal Account Number (UAN) and their Aadhaar details must have been seeded to their EPF account in order to do so. EPFO increased the maximum amount assured payable under the Employees' Deposit Linked Insurance (EDLI) programme to Rs 7 lakh in May of this year. The Employees' Provident Fund and Miscellaneous Provisions Act (EPF and MP Act) of 1952 established EDLI as one of the plans. In the event of the death of the individual insured within the service period, the registered nominee receives a lump-sum payment.