During the KYC of EPFO, rules have been changed to prevent disturbances. Now you can change the first letter of your name to full form, but changing the full name will not be allowed.
The Employees’ Provident Fund Organization (EPFO) has further tightened the security of PF accounts after receiving complaints from customers. Now you will not change the details of consumers in PF accounts in KYC (No Your Customer) without the original document. For any change, the department will first verify the certificates. Only then will any change be made. EPFO has banned payment from PF account with the change in KYC. The employer has also issued advisory to change the PF shareholder KYC only on the original document.
For the past few days, there were complaints of wrongly withdrawing money from some accounts under the guise of KYC. The department has tightened the rules to deal with it. Regional Commissioner of Kanpur Headquarters Salil Shankar said that new instructions have been issued in these cases. At the same time, advisors have been given to all the commissioners of the state to take the changes in KYC seriously. Changes in name, date of birth, dependent, address, father or husband’s name will be done by the employer only after seeing all the documents. This rule will be valid both on and offline.
Understand what is change
Now you can change the first letter of your name to full form, but changing the full name to the name of KYC will not be allowed. Like – your name is AK Sharma, then you can change your name to Amit Kumar Sharma. But now you cannot do Pawan Kumar Sharma. In the event of doing so, the Employees Provident Fund Organization can stop the deposit of your accounts. After KYC, the amount will be given only after complete information of the stream holder. The department has taken this decision to protect 4.5 crore accounts of the country and 20 lakh accounts of UP.
