EPFO Update: The Provident fund of any employee is an important amount. It is also a retirement savings scheme, which plays a big role in old age. Now the government also gives many other benefits from the fund. Both the employee and the employer contribute to the PF account. The PF account works under EPFO.
This scheme has been created to ensure financial security in future for the salaried employee and to provide pension benefits. The government also pays interest on the PF account every year. Now the question arises that if, for some reason, there is a divorce between the husband and wife, then who gets the PF amount? If someone dies, then who will be given the provident fund money? You can know all this in detail.
Who will get the PF money after the divorce?
Who will get the PF money after a divorce between husband and wife? If an employee has made his wife a nominee, and he gets divorced, he has no children, and dies for any reason, then the PF money will go to his dependent parents. This means that the nominee has the first right. In such a situation, there is a rule to give the PF money to the parents. There are many employees who make their wives a nominee after marriage.
Whom to make a nominee after marriage
According to the rules of EPFO, for a male employee, wife, children, dependent parents, wife and children of the deceased son are considered family. For a female employee, husband, children, dependent parents, father-in-law, wife and child of the deceased son are considered family.
In such a situation, only the nominee can get the benefit of the PF amount. After marriage, the nomination of a non-family person gets cancelled automatically. If an employee makes a friend or relative a nominee, then their name automatically ends after marriage.
How much interest did the PF employee get?
The central government has been announcing interest to PF employees for every financial year. The government had given 8.25 per cent interest for the financial year 2024-2025. This amount is provided according to the total PF amount. A large number of employees get their benefits. How much is in the PF account? You can easily check through the Umang app.