EPFO members can view pension fund details at one place through UAN, get information about all the transactions done in PF account, even update the bank details given in EPFO.
Bank details have a big role in the Employee Provident Fund Organization (EPFO). Your bank details should be updated so that there is no problem in money transactions. The EPFO member gets a Universal Account Number or UAN which never changes. Even if the job and company change, but this number does not change but gets transferred from one job to another. This number is associated with the employee throughout the job. Now through this number also you can update bank details in EPFO.
When the whole system is going digital and online, then how can EPFO lag behind. In this effort, EPFO has given the facility of online system to all its members to update their information. Members who have UAN number can take advantage of online update. There may also be some people who have taken advantage of EPFO in the past and also have their UAN number. But if they are not able to recover that number then they cannot take advantage of online updation.
Big advantages of UAN
UAN UAN has many advantages. EPFO members can see pension fund details at one place through this unique number, can get information about all the transactions done in PF account, even update the bank details given in EPFO. Huh. This means that EPFO members can easily change the bank details and this work will be done online sitting at home.
To update bank details for your PF account online, follow these steps-
- Visit the official website of EPFO and log in by entering your details
- Click on the ‘Manage’ tab on the top menu
- Go to the ‘KYC’ option from the drop down menu and select ‘Bank’ in the document type
- Enter new bank details including bank account number and IFSC code
- Click on ‘Save’ to enter updated bank details. The details will then appear under the KYC pending approval section
- Submit the required documents to your employer (the company you work for). Remember, for SBI customers, the bank will do the verification through digital means only.
- Once the KYC verification is complete, the status of your request will be updated to the digitally accepted KYC
- EPFO will send a confirmation message once the bank details are confirmed by the employer or SBI
