I am a member of the Employees Provident Fund and have been voluntarily contributing 100% of my basic salary (Rs.6,500/- per month) for the last several years.
I am not married and do not intend to get married or raise a family. I have the following members in my family:
a)my 82-year old mother
b)one married brother
c)two married sisters
I have just come across 2 clauses in the EPF scheme :
1)\"If a member has a family at the time of making a nomination, the nomination shall be in favour of one or more persons belonging to his family.
Any nomination made by such member in favour of a person not belonging to his family shall be invalid.\"
2)\"a family” means—
(i) in the case of a male member, his wife, his children, whether married or unmarried, his dependant parents and his deceased son’s
widow and children.\"
I have nominated my 82-year old mother. However, she has her own sources of income like bank interest, rental income, etc. and files her own Income Tax Ret
From India, Mumbai
3I am not married and do not intend to get married or raise a family. I have the following members in my family:
a)my 82-year old mother
b)one married brother
c)two married sisters
I have just come across 2 clauses in the EPF scheme :
1)\"If a member has a family at the time of making a nomination, the nomination shall be in favour of one or more persons belonging to his family.
Any nomination made by such member in favour of a person not belonging to his family shall be invalid.\"
2)\"a family” means—
(i) in the case of a male member, his wife, his children, whether married or unmarried, his dependant parents and his deceased son’s
widow and children.\"
I have nominated my 82-year old mother. However, she has her own sources of income like bank interest, rental income, etc. and files her own Income Tax Ret
From India, Mumbai
Greetings !! Your query seems incomplete. What is that you would like to be guided upon? The information given by you does not make that clear.
From India, Ahmedabad
From India, Ahmedabad
Mr. Mehta is right, your qurey is not clear that what would you like to know about the scheme ??????????
From India, Kota
From India, Kota
Dear Mr.Kapil,
If ur query is about nomination to the employees provident fund means, this will help you.
As you said in your query your mother has to be nominated for the EPF, once you get married you should submit form 2a again with your spouse details & she will be nominee for the EPF after your marriage.
With Regards,
S.Magesh
From India, Mumbai
If ur query is about nomination to the employees provident fund means, this will help you.
As you said in your query your mother has to be nominated for the EPF, once you get married you should submit form 2a again with your spouse details & she will be nominee for the EPF after your marriage.
With Regards,
S.Magesh
From India, Mumbai
1) I have nominated my mother who is 82 year-old because only she possibly falls in the definition of \\\\\\\'family\\\\\\\' as per EPF. However, the EPF rules specify \\\\\\\"dependent parents\\\\\\\" as family. Since my mother has her own source of interest and rental income, and files her own Income Tax Returns, can she still be classified as \"dependent\"? Of course she lives with me in my house and I look after her. So is my nomination of my mother for my EPF account valid and correct?
From India, Mumbai
From India, Mumbai
Secondly, can I appoint my sister or brother or nephew as my nominee, if my mother pre-deceases me (dies before me), and as long as I am not married even thereafter and do not have a "family" as defined in point 2 above? When I cease to have a "family" as per the EPF rules, can I nominate any other close relative and the entire accumulations will then be paid to this nominee without complications in the eventuality of my death?
Dear Sirs, I shall be grateful to receive your advice and guidance.
From India, Mumbai
Dear Sirs, I shall be grateful to receive your advice and guidance.
From India, Mumbai
Dear Kapil: The nomination made in favour of 'Mother' is valid at any rate so long as you are unmarried. There is no definition given of 'Dependent' under the PF Act nor is the term explained in the General Clauses Act 1938. Hence the common understanding of the word must prevail, which only means that some sort of help and assistance is rendered. Since you have explained that the mother is dependent on you partially, the same should hold good. In the event of the nominee predeceasing you then the nomination has to be changed. In that event, so long as you are unmarried, you can nominate brother/sister/nephew/neice etc. But in case there is no valid nomination, then the successor as per Hindu Succession Act1956 would be eligibile to apply. Your brother/sister/etc would be Class II successors and in the absence of Class I dependent all Class II relatives have equal claim. I would suggest that you prepare a proper 'WILL' with the help of an advocate and get it executed and make your intentions clear. Though the PF Act does not mention anything regarding will, such an action would help in resolving mutually conflicting claims of the successors in interest, as per your wish.
Regards
KK
From India, Bhopal
Regards
KK
From India, Bhopal
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Employees' Provident Funds (Third Amendment) Scheme 2008 - 0.pdf
EMPLOYEES' PROVIDENT FUND & MISC PROVISIONS ACT '1952.ppt