PF Account: EPFO has made the security of PF accounts more stringent. Now PF account can not change their name and profile in account.
The Employees Provident Fund Organization (EPFO) has taken several steps to correct its subscribers in the Provident Fund Account (PF Account). EPFO has provided corrections to PF account holders in name, father’s name, date of birth etc. But now it has made the security of PF accounts more stringent. Now PF account can not change their name and profile in account. According to EPFO, due to online correction in the profile of PF accounts, there is scope for mismatch in the records and this increases the possibility of fraud.
There have been many cases of fraudulent withdrawal of money in the name of KYC (KYC) on PF accounts. To deal with this, the Employees Provident Fund Organization has decided to tighten the rules and has issued guidelines for this. The need to introduce new guidelines is because the EPFO observed some cases of fraudulent withdrawals from PF accounts. According to the EPFO, corrections in the member’s profile have been allowed to correct errors in name, father / husband’s name, date of birth and gender.
Small name change allowed
According to the new guidelines, now the details of the shareholders in the PF account will not change without a paper document. However, small name changes are allowed. But now EPFO will check the certificates before any major changes. Only then will the propile be changed. The EPFO has said in its circular that the regional offices should not improve the records of any subscribers without any paper proof.
Name will change after submitting proof
Major changes in the name, birthday, nominee, address, father or husband’s name in the PF account will happen only after looking at the paper proof of employers and shareholders. The change of online and offline mode in KYC will be considered valid only when the shareholder documents are uploaded. If an organization is closed, then the documents will be accompanied by a salary slip, appointment letter and PF slip.
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