New Delhi: If you do in any company and PF is also deducted, then this news is of great use to you. Now you can easily transfer PF amount to other bank account also.
The Employees’ Provident Fund Organization has implemented some new rules for the associated employees. Now employees will not have any problem in withdrawing PF amount. The deposited amount will be easily withdrawn through online mode.Also Read: Lifelong Rs 61250 pension, premium only! LIC Super Policy!
Learn the easy way
To change his bank account linked with EPFO, any person associated with EPFO will have to first activate its portal. You will also need to use your ID and password to log in. Thereafter, the EPF account holder will need to follow a few simple steps that will help him/her to convert his/her bank account linked to EPFO.Also Read: LIC: Invest Rs 75 daily, you will get huge amount on maturity, know full details
How to link account with EPFO
- Log on to EPFO member portal – unifiedportal-mem.epfindia.gov.in/memberinterface/.
- On the home page, enter your login ID and password.
- Click on ‘Mange’ option.
- Select the KYC option in the drop-down.
- Select the document and write about the bank.
- After that enter the bank account number and its IFSC code.
- Click on Save option at the bottom.
After saving the new bank details, the pending KYC will be shown for approval.
Now submit the document proof of your employer. Once your employer will verify your submitted documents. Then the pending KYC will be converted into digitally approved KYC for approval. You will also receive a text SMS from EPFO for digital approval of your KYC after the employer approves the documents submitted.Also Read:LIC: By investing 6 thousand rupees a month, got 28 lakhs, pension of Rs 15000 on maturity also
At the same time, PF account is a good way of investment and savings for the employed people. You can also withdraw this money at some time if you need money during the job. If you are applying to withdraw money from PF account, then your claim will be processed in 20 days.
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