EPFO: Learn the step-by-step guide to adding, updating, or linking your bank account in your PF account through the EPFO Member Portal, UMANG app, and other methods. Understand KYC approval processes, verification, and FAQs.
Introduction
The Employee Provident Fund (EPF) plays a vital role in ensuring the financial security of employees. Keeping your bank account updated in your PF account is crucial for smooth transactions, such as withdrawal or transfer of funds. In 2024, updating or linking your bank account details in your EPF account is more streamlined with the EPFO Member Portal and UMANG app. This guide walks you through the entire process, answering essential questions like how to update your bank account details, who approves KYC, and more.
How to Add or Update Your Bank Account in EPF Account Online
Updating your bank account details in your EPF account can be done conveniently online. Here’s a step-by-step guide:
Step 1: Log in to the EPFO Member Portal
- Visit the EPFO Member Portal.
- Use your Universal Account Number (UAN) and password to log in.
- Enter the CAPTCHA code and proceed.
Step 2: Navigate to KYC Update
- Once logged in, click on the ‘Manage’ tab.
- Select ‘KYC’ from the dropdown menu.
Step 3: Add or Update Bank Details
- Locate the section for bank details.
- Enter your updated bank account number, IFSC code, and bank name.
- Upload a scanned copy of your canceled cheque or passbook for verification.
Step 4: Save and Submit
- Save the entered details.
- Submit the KYC request for employer approval.
Who Approves Bank KYC in EPFO?
The KYC details submitted through the EPFO Member Portal must be approved by your employer. Once approved, the updated bank account details are verified by the EPFO.
How to Check KYC Update in EPFO
After submitting your KYC update request, you can check its status online:
Steps to Check KYC Status
- Log in to the EPFO Member Portal.
- Go to the ‘Manage’ tab and select ‘KYC’.
- Check the status under the ‘KYC Pending for Approval’ or ‘Approved KYC’ section.
If your KYC is approved, the updated bank details will reflect in your profile.
Who Verifies a Bank Account in EPFO?
The EPFO verifies your bank account details after employer approval. The verification ensures that the submitted bank account is valid and active for financial transactions related to your EPF account.
How to Update Bank Details in EPFO UMANG App
The UMANG app is a mobile-friendly way to manage your EPF account. Follow these steps to update your bank account details:
Steps to Update Bank Account via UMANG App
- Download and install the UMANG app from Google Play Store or Apple App Store.
- Log in using your UAN and OTP.
- Navigate to ‘EPFO Services’ and select ‘KYC Services’.
- Update your bank account details and upload supporting documents.
- Submit the request and wait for approval.
Updating Bank Details in EPFO Without Employer Involvement
In certain scenarios, employees may want to update their bank details without employer intervention. While this is less common, it can be done by:
- Visiting the nearest EPFO office.
- Submitting a duly filled Composite Claim Form (Aadhar).
- Attaching required documents such as your Aadhaar and updated bank passbook.
FAQs
How do I update my bank account in EPFO?
Log in to the EPFO Member Portal, navigate to the KYC section, add your updated bank details, and submit for employer approval.
Who will approve bank KYC in EPFO?
Your employer initially approves the bank KYC request, followed by verification by the EPFO.
How to check KYC update in EPFO?
Log in to the EPFO Member Portal, go to the ‘Manage’ section, and check under ‘Approved KYC’ or ‘KYC Pending for Approval’.
Who verifies a bank account in EPFO?
The EPFO verifies the updated bank account details after employer approval.
Can I update bank details in EPFO without my employer?
Yes, you can update your bank details by visiting an EPFO office and submitting a Composite Claim Form (Aadhar).
Conclusion
Updating or linking your bank account in your EPF account is essential to ensure smooth financial transactions. With the online EPFO Member Portal and the UMANG app, the process has become faster and more accessible. Always keep your UAN credentials secure and ensure that your bank details are accurate to avoid delays. Use this comprehensive guide to manage your EPF bank account details efficiently in 2024.
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