PF Death Claim: All the employed people in India have a PF account. The PF account run by the Employees’ Provident Fund Organization (EPFO) is a good savings plan for the future. In which both the employee and the employer contribute.
12 percent of the salary is deposited in the account. The government also gives a good amount of interest on PF accounts. The best thing about a PF account is that if needed, the PF account holder can withdraw money from his PF account anytime.
Money can be withdrawn in case of marriage or someone’s ill health in the family. Money can also be withdrawn if a house has to be built. This question often comes to people’s mind that if the PF account holder dies, then what happens to that money. So let us tell you who gets the money after death and what is the process of withdrawing money.
Nominee gets the claim
If a PF account holder dies suddenly, then as per the rules of the Employees’ Provident Fund Organization (EPFO), the entire amount of the account is handed over to the nominee. Generally, the nominee is already named in the PF accounts. After this, the nominee can get a death claim for the amount in the PF account holder’s account. For this, an application for the claim amount is made by filling the death claim form available at the post office or on the official website of EPFO.
Form 20 has to be filled and submitted
After the death of the PF account holder, his nominee has to fill and submit Form 20 with the complete details of the account holder. This form is forwarded to him by the employer i.e. the company in which the account holder was working till the last time. After filling the form with all the documents, it is submitted. The nominee is informed about the claim on the phone number provided. After the claim is settled, the money is credited to the given bank account.
These documents are a must
For PF death claim, the nominee needs PF account number, other details of the nominee like name, address, identity card, and mobile number along with some important documents like death claim form, PF account holder death certificate and account holder’s passbook. If the PF account holder does not have any nominee, then the amount goes to the legal heir.