Recently on behalf of EPFO Employees Provident Fund Organization has issued an alert note for its EPF member in which they have stated that some of the bank’s IFSC codes have changed from April 1, 2021, including Andhra Bank, Oriental Bank of Commerce, Allahabad Bank, Syndicate Bank, United Bank of India and Corporation Bank. If an EPF member has an account in these banks and this account is linked to the EPF account, then you need to take a new IFSC Code from your bank and update it through employer or online. PF account holders will not be able to withdraw any kind of money from their PF account until the new IFSC Code is updated.
Attention EPF member!!
It is hereby notified that with effect from 1st April 2021 the IFSC of Andhra Bank, Oriental Bank of Commerce, Allahabad Bank, Syndicate Bank, United Bank of India and Corporation Bank has become invalid. Member needs to get the correct IFSC added through employer as till then no online claim filing will be facilitated.
Kindly get the correct IFSC from your bank and get the details uploaded and approved. This will ensure that member’s claim amount is not returned by banks.
Why an EPF member needs a new IFSC Code .
As you will be aware that many banks of the country are merging and IFSC codes are changed on merging banks, due to which the bank details paired with the old IFSC code become invalid.
You might know that Oriental Bank of Commerce and United Bank of India merged with Punjab National Bank, Syndicate Bank merged with Canara Bank, Andhra and Corporation Bank merged with Union Bank of India and Allahabad Bank merged with Indian Bank Has been with Due to which the IFSC code of these banks has changed and the new IFSC code has been given to these banks. Which needs to connect EPF Member to their PF account. Because on not doing so, EPF Members will not be able to withdraw money from the PF account in any way.
