In EPF I have nominated two nominees & distributed an equal amount of share to each i.e. 50% if the First nominee expires & his 50% share will be given to the second nominee is it correct?
From India
From India
If one of the two nominees expire then the other nominee gets 100%. What you stated is correct.
From India, Mumbai
1534From India, Mumbai
@Csj
at the time of claim, the claimant has to produced the death certificate of the EPF subscriber as well as death certificate of 2nd nominee, however the fund may ask for an indemnity
if either of nominee pass away but the EPF subscriber is alive then the nomination can be changed by the subscriber with umang app
at the time of claim, the claimant has to produced the death certificate of the EPF subscriber as well as death certificate of 2nd nominee, however the fund may ask for an indemnity
if either of nominee pass away but the EPF subscriber is alive then the nomination can be changed by the subscriber with umang app
in PF & Gratuity Nomination an employee mentioned nominee to his Wife & brother and given Wife 75% & 25% to his brother....weather his brother is eligible to get 25% of benefit under PF & Gratuity act...now the employee has expired
From India
From India
@Csj
for employment related claims the benefits remains limited to spouse and minor children only, however if the wife of deceased does not raise any objection, then brother will get the percentile as mentioned in nomination.
for employment related claims the benefits remains limited to spouse and minor children only, however if the wife of deceased does not raise any objection, then brother will get the percentile as mentioned in nomination.
As per the rules of the EPF scheme, in case the provident fund account holder doesn’t have a family while filing the nomination, then he is eligible for nominating any person or persons. But after acquiring a family , the PF member can only nominate one or more persons belonging to the family. The family includes ‘spouse,’ ‘legitimate children,’ ‘stepchildren,’ ‘deceased son’s widow,’ ‘deceased son's legitimate children,’ ‘deceased son's step-children’ and ‘dependent parents’ are considered as legal ‘family members’ . Any nomination made by a PF account holders in favour of a person not belonging to his family will be treated invalid.
The brother is outside the family and the nomination is invalid, so the share given to the invalid member reverts to the valid member and can be paid to the spouse in this case.
From India, Mumbai
The brother is outside the family and the nomination is invalid, so the share given to the invalid member reverts to the valid member and can be paid to the spouse in this case.
From India, Mumbai
In PF Nomination Form 2 Para 18 (EPS) - nomination for Employee Pension Scheme should be given to only 2 children below 25 years, can an employee mention three / four children of his family irrespective of their age and later if employee expires the pension will be given to the children based on their age (below 25) at the date of death.... is it correct ..
can an employee nominate three / four children names in Form 2 Para 18 (EPS).
From India
can an employee nominate three / four children names in Form 2 Para 18 (EPS).
From India
When children above 25 years are ineligible to receive pension, there is no point in nominating such children who are aged above 25 now itself. In EPS, pension is given irrespective of the corpus of contribution. So as a welfare measure to the member's family, pension is paid only upto 25 years and thereafter it ceases. Such welfare schemes are worked out based on certain core assumptions and it is not a fanciful idea to fix a ceiling of 25 years.
From India, Mumbai
From India, Mumbai
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