PF KYC Updation: If you looking to apply for provident fund (PF) advance after getting your Know your Customer (KYC) details corrected, you can now do so. The EPFO has updated KYC data for its 52.62 lakh subscribers in the month of April and May 2020. This includes Aadhaar seeding for 39.97 lakh subscribers, mobile seeding (UAN activation) for 9.87 lakh subscribers and bank account seeding for 11.11 lakh subscribers.
To enable KYC seeding, the EPFO has rectified the details of the subscribers which has resulted in 4.81 lakh name corrections, 2.01 lakh date of birth corrections and 3.70 lakh Aadhaar number corrections in the last two months.
PF KYC is a one-time process which helps in identity verification of members or employees or the subscribers through linking of Universal Account Number (UAN) with KYC details. The KYC details is the employee’s data including PAN, Aadhaar and Bank Account details. If one has not yet updated these details on the EPFO Member Portal, it is better to complete them by visiting the EPFO’s UAN Portal.
Once the KYC is updated and seeded with bank account and Aadhaar, the claim can be submitted through online mode without attestation of the employer. A member can view his monthly contribution statement by logging on UAN portal.
In order to update or change in KYC (Know your customer) detail on UAN EPFO portal, a member requires UAN (Universal Account Number). Member can login to EPFO UAN portal and update KYC by uploading necessary documents online. Online request for correction in name, date of birth and gender has been introduced on the portal.
According to a recent step by EPFO, the date of birth recorded in Aadhaar will now be accepted as valid proof of date of birth for the purpose of rectification, provided that the difference in the two dates is less than 3 years. The PF subscribers can submit the correction requests online.
This will enable the EPFO to validate the birth date of members online with Unique Identification Authority of India (UIDAI) instantaneously, thus authenticating and reducing the processing time of change requests.
It is better to do PF KYC check of PF claim for COVID-19, if you have already applied earlier. See, if any updation and correction is required and complete them before applying again.