EPF Covid Claim: Nominee Can Claim EPF Insurance Upto Rs 7 Lakh By Filling Form V IF

The Employees Provident Fund Organisation (EPFO) raised the overall assurance value under the Employees Deposit Linked Insurance (EDLI) scheme to Rs 7 lakh from Rs 6 lakh, nbsp;in a bid to support crores of employees affected by the coronavirus pandemic. In this case, when an account holder dies, how will the nominee or legitimate heirs claim the Employees Provident Fund (EPF)? The issue is critical, and not only the provident fund holder but also his or her immediate family must be aware of and prepared for all possibilities. If the scheme subscriber expires, the Employees Provident Fund Organisation (EPFO) permits the entire EPF sum to be paid to the nominee. Those protected by EPF are automatically granted membership in EDLI. The Employees Deposit-Linked Insurance Scheme, established in 1976, offers insurance coverage to the employees nominee in the event of the employees death while on the job. Nominees, family members, and legal heirs can fill out PF Form 5 IF to seek insurance benefits after the death of an active EPFO member. Its worth noting that the benefit is only available if the participant died while on active duty.The gain under the Employees Deposit Linked Insurance Scheme, 1976 is only available to the person(s) entitled to the deceased members Provident Fund accumulations if the member died while in service.Things to know before filling the formTo ensure that all benefits under the three Schemes are processed, the form should be submitted with Form 20 (for claiming Provident Fund dues) and Form 10 D/10C (for Pension/Withdrawal Benefit as applicable).Filling out the form in block letters is required, and no overwriting is permitted.Only the offline method can be used to fill out the form.The application must be attested by the last employer for whom the member worked.To have the money credited to your bank account, you must apply a canceled cheque to the form.Documents required to submit for death claim1. Death Certificate of the member2. Guardianship certificate if the claim on behalf of a minor family member/nominee/legal heir is by other than the natural guardian.3. In the event of a legitimate heirs claim, a succession certificate is required4. Copy of a canceled/blank cheque of the bank account in which payment is opted.5. If the members were the last working in an institution exempted under the EPF Scheme 1952, the employer of such an establishment must include the PF records for the previous 12 months under the Certificate section, as well as an attested copy of the Members Nomination Form.Advertisement Nominees (members of the family) designated under the EPF SchemeIn the event that no one is nominated, all members of the family are automatically included (except the major son, married daughters with husbands who are alive, and married granddaughters with husbands who are alive)In the absence of a family and a nomination, the legal heir of a minor nominee/family member/legal heir is appointed.Link to download the Form-https://www.epfindia.gov.in/site_docs/PDFs/Downloads_PDFs/Form5IF.pdf NameDate of BirthRelation with the deceased(Information of the minor nominee/heir and the guardians connection to the minor if the claimant is a guardian.)Claimants Full Postal addressMode of remittance- Cancelled cheque should be attached with the applicationAdvance Stamp ReceiptCertificate to be filled by the EmployerIF withdrawal RegisterClaimants and employers must both sign the application form in the designated area.Its possible that the institution would be closed, and no officer will be able to certify the claim form. In such cases, the member must have the form attested by one of the authorities mentioned below:MagistrateA Gazetted OfficerPost/Sub-Post MasterPresident of the Village Panchayat where there is not Union BoardChairman/Secretary/Member of Municipal/District Local BoardMember of Parliament/Legislative AssemblyMember of CBT/Regional Committee EPFManager of the Bank in which the Bank Account is maintainedHead of any recognized educational institutionIf the account holder dies, the applicant or beneficiary may use the OTP on his or her Aadhaar-linked mobile to submit an EPF Composite Death Claim Form.