The EPF accounts can be easily transferred if the KYC details are updated.
The Universal Account Number (UAN) is a unique number, allotted by the Employees’ Provident Fund Organisation (EPFO) to all employees covered by the EPF.
Even in the case of an employee changing their employer, the UAN remains the same. Using the UAN, an employee can check their personal details and EPF balance on the EPF member portal.
However, to use these facilities online, an employee must ensure to update their Know Your Customer (KYC) details with the EPFO. The employees must also ensure to update bank account details on EPFO portal.
Read More: New PF withdrawal rule: PAN card holders must do this when filing income tax returns
Compliance with KYC requirements also comes handy in handling cases related to fraud. If you are yet to update your KYC on EPFO portal, you may complete the process online by following these simple steps:
How to update KYC details on EPFO Portal:
Step 1: Log in to your EPF account at https://unifiedportal-mem.epfindia.gov.in/memberinterface/ using credentials like UAN, Password and Captcha code.
Step 2: Under ‘Manage’ section, look for and click on the ‘KYC’ option from the drop-down list.
Step 3: As the form appears on the screen, customer needs to fill up the required details such as PAN, Aadhaar, Passport and bank details.
Step 4: Put a tick on the box of the document that you want to update. To complete the process, enter the document number, name as per the document and additional details.
Step 5: Then click on the ‘Save’ button under the ‘Pending KYC’ section.
Step 6: The details will then be verified by the EPFO from the data of the concerned department.
Step 7: Once the details match the documents, they will be marked as verified.
Read More: Check PF Balance Online: 4 Ways To Know Your PF Balance On Mobile
Read the benefits of updating KYC details:
-The EPF accounts can be easily transferred if the KYC details are updated.
-Online withdrawal claims can be smoothly handled after KYC details are added with the UAN or after the EPF KYC update.
-All members receive a monthly SMS intimating the monthly PF after activation.
-If in case, a member withdraws his or her PF before 5 years of service, a Tax Deducted at Source (TDS) of 10 per cent will be levied against the amount if PAN is updated in the EPF account. But, if PAN is not updated, then the TDS charge will increase.
For information about EPFO KYC, you may refer to the official website of the organisation.
