EPF account holders must add nominee by December 31; here's step-by-step guide to do e-nomination

Step 2: Now, go to employees and click on 'Member UAN/online service'

Step 3: Login with Universal Account Number (UAN) and password

Step 4: Under 'Manage tab', select e-nomination

Step 5: Click 'yes' to update the family declaration

Step 6: Click 'Add family details'(More than one nominee can be added)

Step 7: Click on 'nomination Details' to declare the total amount of share. Click 'save EPF nomination'

Step 8: Click 'e-sign' to generate OTP and submit OTP sent on mobile number linked with Aadhaar. With this, e-nomination is done. There is no need to send any physical document to the employer.

In May this year, EPFO hiked the maximum sum assured payable under the Employees’ Deposit Linked Insurance (EDLI) scheme to Rs 7 lakh.

EDLI is one of the schemes formulated under the Employees’ Provident Fund and Miscellaneous Provisions Act (EPF and MP Act), 1952. Under this, the registered nominee receives a lumpsum payment in the event of the death of the person insured, during the period of the service.

The benefits under EDLI can be claimed by the nominee specified by the insured person.  The claim amount depends on the salary drawn in the last 12 months of the employment of the deceased (this is subject to a maximum of Rs 7 lakh).

The minimum death cover, in this case, is Rs 2.5 lakh.