How to Update Bank Details in the EPF Account 

A Comprehensive Guide

It is not only mandatory but significant to ensure that your hard-earned savings reach you during retirement when you need them the most. Updated bank details in your EPF determine smooth fund transfers, withdrawals, and other financial transactions.

Why Update Bank Details in EPF

The EPF or the Employees Provident Fund is a scheme maintained by the EPFO or the Employees’ Provident Fund Organisation, India. With over 6.2 crore contributory members, EPFO is one of the largest social security organizations ensuring monetary security to employees in the country.

Eligible employees under EPF have to update all their information in their PF account. These include details like name, contact number, address, bank details, and nominee details. The amount deducted from their salary every month is also deposited in the bank PF account regularly. The details stored in the EPF account are especially necessary to claim your retirement benefits. Hence, inaccuracy in the bank account details, or if they are not updated, becomes a matter of concern for the employee if they want to withdraw or transfer money from the PF account.

Prerequisites for Updating Bank Details in the EPF Account

Here are the bank details required to update bank account details for the PF account:

– Name as per Bank Account

– Bank Account Number

– IFSC Code of the Bank

Updating Bank Details Online in the EPF Account

To update bank details online in your EPF account, below are the steps to follow:

1. Visit the official website of EPFO 

2. On the right-hand side of the home page, you can see UAN Member e-Seva. Use your UAN, password, and captcha code to log in to the account

3. Next, go to the ‘Manage’ tab on the top menu bar, and from the drop-down menu select the ‘KYC’ option

4. You will be redirected to a page containing different details. Select the details you want to update

5. Here, select ‘bank’ and update details like ‘name’, ‘bank account number’, and IFSC code, etc.

6. After entering all the above details, you can see a button ‘Verify IFSC’; click on the same. A pop-up message will appear with ‘IFSC Verified’. Click on ‘OK’

7. The Branch Name and Bank Name will automatically appear. Check if the same is accurate. Just below, a check box needs to be ticked for consent. After that, click on the ‘Save’ button.

8. An OTP will be sent to the Aadhaar registered mobile. (It is essential that the mobile number linked to Aadhaar and EPF is the same)

9. Enter the OTP (received on your registered mobile number) in the ‘Enter OTP’ section. Then click on the ‘Submit’ button

10. You will see that the application has been submitted and is now pending for approval. Approval can be via two methods:

Your Bank Account is verified by your Bank (Usually gets verified within 48 hrs.)

The KYC details are seeded only after digital approval by the Employer (The Employer is given a period of 60 days to verify and digitally approve)

11. If your bank verifies the KYC, you can see the status in the KYC History section as ‘Verified online by Bank’

In case your KYC needs to be approved by the Employer, you will see the status in the KYC Pending for Approval section as ‘Pending with Employer for digital signing’

You are required to contact your Employer, and submit copies of the documents to your Employer if required

Once your Employer verifies and approves your submitted documents, they will appear under the section of ‘Digitally Approved KYC’ on the EPFO portal

You will be informed about the approval of the documents through an SMS

Updating Bank Details Offline in the EPF Account

You will require the below documents/details to update bank details in an EPFO branch:

– Aadhaar Card

– PAN Card

– Bank Details (Bank Account Number, IFSC Code)

The presence of the EPFO member at the EPF branch office is required in person on some occasions, such as when the claim status of employees is pending for an extended period or any similar situation. During such a scenario, you must visit your PF office to resolve any pending action required.

Common Issues and Troubleshooting Related to Updating Bank Details in the EPF Account

The most common troubles faced by EPFO members are:

– Unaware of UAN Number

– How to add a bank account in EPFO?

– How to activate UAN?

– How to take correct measures if any issue      arises while generating UAN?

– How to check PF Balance?

– What documents need to be updated?

– Where to log in and navigate through the      portal?

– How to manage UAN?

How to change your name in your bank account online?

To resolve these queries, the employee must be vigilant about the below considerations:

– Maintain your updated Aadhaar details and accurate data on your EFP account

– Link your mobile number with Aadhaar

– Your PAN card details should also match your Aadhaar

– Link your Aadhaar with EPF Account

– Make sure that your bank details updated on the EPF account are accurate

– Next, you should Activate your UAN

EPFO Helpline Numbers, Mail-id and Toll-Free Number

Further, EPFO helpline numbers can also be used to resolve any further query regarding your EPFO account. Check the link to the complete list of regional offices with dedicated WhatsApp helpline numbers for solving EPFO employee queries on WhatsApp.

You may also contact EPFO Helpdesk at Toll-Free Number: 1800 11 8005


Security and Data Privacy of the EPF Account

A KYC update is essential for your EPF account. It ensures smoother transactions of your PF and secures your financial details. Further, the EPF account contains the details of employees such as Aadhaar and PAN details and other important information of an employee. These pieces of information are very crucial and need to be safeguarded from being breached. You must ensure not to share the OTPs generated while updating bank details or any other process in the EPFO portal.

Following the step-wise guide mentioned above, one can help you easily and effectively navigate the EPFO portal and enjoy a secure and seamless EPF experience. By updating your KYC details regularly, you can align with the necessary regulatory requirements to avoid hassles in accessing your EPF online and saving time.

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