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, 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 employee's nominee in the event of the employee's death while on the job.

What is the purpose of Form 5 IF?

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. It's 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 member's Provident Fund accumulations if the member died while in service.

Things to know before filling the form

To 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 claim

1. Death Certificate of the member
2. 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 heir's claim, a succession certificate is required
4. 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 Member's Nomination Form.

Who can Fill EPF Form 5 IF?

Nominees (members of the family) designated under the EPF Scheme
In 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

Details of the claimant/guardian

• Name
• Date of Birth
• Relation with the deceased
• (Information of the minor nominee/heir and the guardian's connection to the minor if the claimant is a guardian.)
• Claimant's Full Postal address
• Mode of remittance- Cancelled cheque should be attached with the application
• Advance Stamp Receipt
• Certificate to be filled by the Employer
• IF withdrawal Register
• Claimants and employers must both sign the application form in the designated area.

It's 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:

• Magistrate
• A Gazetted Officer
• Post/Sub-Post Master
• President of the Village Panchayat where there is not Union Board
• Chairman/Secretary/Member of Municipal/District Local Board
• Member of Parliament/Legislative Assembly
• Member of CBT/Regional Committee EPF
• Manager of the Bank in which the Bank Account is maintained
• Head of any recognized educational institution
• If 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.