Workers and employers may combine their resources in a set manner via the Employees’ Provident Fund (EPF), which functions as social security. Each employee must declare their intention to participate and be nominated under the Employees’ Provident Fund Scheme, 1952, and the Employees’ Pension Scheme, 1995.
After the employee completes and submits the EPF Form 2, the selected beneficiary may receive the accrued funds in the case of the employee’s untimely death. So, read on to learn more about EPF Form 2 in the article below.
What is EPF Form 2?
The “Declaration and Nomination Form,” also known as EPF Form 2, is the form that has to be filled out for workers’ provident fund accounts. There is a clear statement of who will get the funds if an employee passes away while on the job. When a member passes away, EPF Form 2 is primarily used to name and specify the people who will receive the member’s accumulations, which include employer and employee contributions.
Key Points About EPF Form 2
Here are the key aspects of EPF Form 2 filled sample::
- This document aims to declare and nominate individuals to get EPF accumulation benefits.
- In the case of a member’s death, EPF benefits might be distributed to one or more designated beneficiaries.
- The nominee’s name, relationship, date of birth, percentage share, and mailing address are all required fields on this EPF form 2 revised filled sample.
- The EPF member’s signature and the two witnesses’ presence are necessary.
- Nominations are valid until either they are replaced or withdrawn.
- Be sure to submit according to the instructions provided by your company or EPFO.
PF Form 2 Structure
EPF form 2 filled sample consists of — General Information, Part A (EPF Proceeds), Part B (EPS Proceeds) (Para 18)
General Information
In this part, these documents are requested:
- Name of the member
- Name of the Husband or Father
- Date of birth
- Gender
- Marital Status
- Account number
- Permanent Address
- Date of joining EPF and EPS nominations
Part A (EPF Proceeds)
In this case, the proprietor of the EPF account must provide information on the nominee, which includes:
- Identifying Information for Personnel Nominee(s)
- Relationship between the nominee and the member
- Date of birth
- Total amount in PF to be paid to each nominee
- In case if the nominee is minor, the name and address of their legal guardian must be given.
- Subscriber’s thumbprint or signature
Part B (EPS Proceeds) (Para 18)
While employers contribute 12% to the Employees’ Pension Fund (EPF), 8.33% of that amount goes into the Employees’ Pension Scheme (EPS) account. Funds from a member’s PF accounts are also distributed to eligible nominees as EPS. In this section, you’ll need to identify which family members are eligible for the pension.
The following details are required of the member in this section:
- Name of the family member
- Address of the family member
- Date of birth
- Relationship with the member
- Subscriber’s thumbprint or signature
Paragraph 16 2(a) (i) and (ii) requires members to provide suitable information when they designate another individual to receive a monthly widow pension. This includes things like,
- Name and contact details of the nominee
- Date of birth
- Relationship with the member
Guidelines to Nominate Family Members Via EPF Form 2
Nominating relatives is a part of a worker’s financial plan. In order to ensure that their loved ones get the benefits in the case of a disaster, workers are required to adhere to certain guidelines when nominating someone on EPF Form 2.
When recommending family members for a job position, it is important to remember the following:
● Employee Benefits Program
The Employees’ Provident Fund Scheme has somewhat different ideas on what constitutes a family for men and women. If a father is a male employee, he may designate his wife, parents, children, and even the widow and children of his son as beneficiaries. On the other side, female workers have the right to designate whomever they choose, including their spouses, dependent parents, children, and even the widow of a son, if she has any.
● Employee Pension Scheme
Workers have the option to designate someone else as the receiver of their pension benefits under the Employee’s Pension Scheme if the employee passes away. The employee’s spouse, small children, unmarried daughters, or adopted children may be beneficiaries.
How to Download EPF Form 2 Online?
Follow the steps below to EPF form 2 revised download pdf online:
- Visit the EPFO website at https://www.EPFindia.gov.in/.
- If you already have one, you may access your EPFO account using your password and UAN (Universal Account Number). To use the site, you have to sign up.
- To get the forms, visit the ‘Downloads’ section of the EPFO site once you’ve logged in. You may find the word “forms” on the menu or sidebar.
- In the “Forms” area, you should be able to locate the second EPF form. Try searching the alphabetical list or the “Member” or “Employee” parts of the forms; you should be able to find it.
- To EPF form 2 revised download word format, just click on the provided link. Typically, it will be in PDF format. On your computer or mobile device, save the form.
How to Fill e-Nomination?
The unified EPF Member Portal allows anybody with a UAN on file to electronically nominate others. Before you finish the simple e-nomination processes on the EPF member site, make sure to activate your UAN:
- To access the EPF member site, please enter your login details.
- Choose “e-Nomination” from the “Manage” submenu on the upper left.
- Submit your present and permanent addresses in your profile before clicking the “Save” button.
- Choose the one that most accurately portrays your family status.
- After you’ve entered the Aadhaar number, name, DOB, gender, relation, address, and legal guardian information for each family member (if a minor), click “Save Family Details.” Users may use the “Add Row” feature to add more nominees if desired.
- Next, enter the amount value and choose the candidates from the list. Pick “Save EPF Nomination form” from the list of choices.
- Based on your indicated percentages, they will allocate the monies to the candidates after keeping track of your nomination details.
How to File Nomination Offline?
It is necessary to provide the nomination data EPF form 2 revised filled sample before applying to the employer.
Once nomination form 2 is filed, the EPF account will be updated with the nomination details. The amount will be distributed to the applicant in accordance with the percentages indicated on Form 2.
Things to Remember if you are Nominating Family Members
Some of the things to remember include:
- Members are free to make changes to their nominations whenever they choose.
- Nominating a member of one’s immediate family or other close relatives is completely acceptable.
- If a member has no relatives to suggest, anybody may do so.
- Nominations from immediate family members are not restricted in number. In this case, a predetermined percentage of the total amount payable to each party would be reasonable.
- Workers with 10 years or more of service are eligible for pension benefits.
- If a worker has relatives in the nominating pool, they are not eligible.
Documents Required
Family nominations submitted using EPF Form 2 do not need any further documentation. To finish the simple process, all you need to do is input your relatives’ names, DOBs, and addresses. The Form 2 revised of EPF is the only form that has to be completed to select family members.
However, you must ensure that the information you provide in the form is accurate and up-to-date. Mistakes or discrepancies today might lead to significant problems later on. Verify that you have entered accurate information before submitting the Form 2 revised of EPF.
Conclusion
Since it details the distribution of an employee’s EPF account money to their dependents in the event of the employee’s death, EPF Form 2 should be known by all firm employees. By following the steps outlined in this article, employees may easily nominate family members to receive EPF benefits via the e-nomination procedure.
FAQ’s:-
The due date for EPF Form 2 has not been set. The members may submit the form whenever they choose once they’ve enlisted in the EPF system.
If a person does not choose a beneficiary, their eligible family members will each get a portion of the PF amount. In the absence of any qualifying family members, the sum will be distributed to the individual with the legal right to receive it in accordance with the regulations.
If a member’s family situation changes, they should be sure to amend their EPF Form 2 nomination accordingly. This may be done at any time the member desires.