New Delhi, (Patrika English News): The Employees’ Provident Fund (EPF) is a crucial retirement savings scheme that secures the financial future of salaried employees. Both the employee and employer contribute to the PF account, which is managed by the Employees’ Provident Fund Organisation (EPFO). The government also provides annual interest on the accumulated amount, along with other benefits.
A common question many employees raise is: Who will receive the PF money in the event of a divorce or the employee’s death?
Who gets PF money after divorce?
According to EPFO rules, if a male employee nominates his wife and later gets divorced but has no children, and he passes away, then the PF money will go to his dependent parents. In such cases, parents are considered the rightful beneficiaries. Many employees nominate their wives after marriage, but divorce changes the situation.
Who can be nominated?
Under EPFO rules, the definition of ‘family’ differs for male and female employees:
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For a male employee: wife, children, dependent parents, and the wife and children of a deceased son are considered family.
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For a female employee: husband, children, dependent parents, father-in-law, and the wife and children of a deceased son are considered family.
Only a family member can be the nominee. After marriage, the nomination of a non-family member (such as a friend or distant relative) automatically becomes invalid.
PF interest for 2024–25
For the financial year 2024–25, the central government has declared an interest rate of 8.25% on PF deposits. Employees can check their updated PF balance and interest through the Umang app.
My name is Bhupendra Singh Chundawat. I am an experienced content writer with several years of expertise in the field. Currently, I contribute to Daily Kiran, creating engaging and informative content across a variety of categories including technology, health, travel, education, and automobiles. My goal is to deliver accurate, insightful, and captivating information through my words to help readers stay informed and empowered.
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