EFPO Withdrawal: Remember To Update KYC Details; Here's How To Do It Online

The Employees' Provident Fund Organisation has taken proactive measures and pushing online services and updating Know Your Customer data to enable transactions such as a claim for final withdrawal and advances through the unified members’ portal.

The Union government has notified new Public Provident Fund (PPF) rules under which the amount in the PPF account will not be liable for attachment. Photo/PTI

New Delhi: In order to tackle challenges during the new normal times, the Employees' Provident Fund Organisation (EPFO) has taken proactive measures and pushing online services to enable transactions such as processing withdrawal of claims and many more. In this case, the EPFO has been able to ensure Know Your Customer (KYC) update of its subscribers during July despite the health crises. According to the Labour & Employment ministry data during July 2020, EPFO has been able to update 2.39 lakh Aadhaar numbers, 4.28 lakh mobile numbers and 5.26 lakh bank accounts in the UAN of its subscribers. In its effort to extend the reach of its online services, the organisation has been updating the Know Your Customer (KYC) data to help subscribers avail its services through online mode. Why is KYC update important? It is a one-time process which helps in the identity verification of its subscribers through linking of the Universal Account Number (UAN) with the KYC details. It enables you to avail online services such as a claim for final withdrawal and advances through the unified members’ portal. What does it consist of? The KYC details comprise of the employee’s data including PAN, Aadhaar and Bank Account details. Make sure that you update these details on the EPFO Member Portal after logging in on EPFO’s UAN Portal. To be able to update or change KYC detail on UAN EPFO portal, you will need to have UAN. You can login to EPFO UAN portal and update KYC by uploading the necessary documents online. Check the step-by-step process to update your KYC. 1) Firstly, login into your EPF account with the help of UAN and password. 2) Then you will see the ‘Manage’ section and then just click on the ‘KYC’ option from the drop-down menu. 3) You will need to enter the details such as PAN, Election card, Aadhaar, Driving License (DL), Ration card, Passport, and details in the form. 4) In the next step, check on the box that shows the document you like to update 5) Then put the document number, name as per the document. 6) You may have to fill in additional details such as IFSC in case of bank details and expiry date in case of a passport and DL. 7) Then just click on the ‘Save’ button. 8) Also, if you don’t want the details to be updated, there is an option to cancel the KYC process by clicking on the ‘X’ sign marked against the document. 9) After the above steps, your details are then cross-checked by the EPFO from the data of the concerned department 10) Lastly, after the details match, the document is marked as verified