KYC is an important step in ensuring smooth usage of one’s provident fund account. Once the KYC details are authenticated and linked to the PF account, it becomes easy to transfer the account or view passbook etc. respectively.
Such transfers and withdrawals take place through the EPFO Unified Portal only if the employee has an active UAN, and has updated the KYC details.
Currently, without the employer’s authentication, the employee can submit three types of claims: Form-19, 10C and 31. UAN to the employees to modify or change the KYC (Know Your Customer) details on the EPFO portal UAN (Universal Account Number) is required.
You can login to the EPFO UAN portal and modify the KYC by uploading the appropriate documents online.EPFO has also introduced an online request for correction in name, date of birth and gender. KYC details include PAN, Aadhaar and bank account data.
In case these details are not yet verified on the EPFO Member Portal, the employees can verify the KYC details online on the UAN portal of EPFO.Employees member can review Aadhaar, PAN, Bank account details through the portal once UAN is enabled by the employer.
A liability can be forwarded through the online method without the employer’s verification. Monthly contribution details can also be accessed by the employee by logging into the UAN portal. One can also visit the eKYC portal to link Aadhaar with UAN.
One can also monitor the eKYC status which has been requested. Aadhaar linked online EPFO services can be accessed after linking PAN and UAN, and you can also seed the same through UMANG’s mobile app.
From the point of view of taxation, furnishing of PAN is important. If PF balance is more than Rs. 50,000 and the service rendered is less than 5 years, 10% tax (TDS) will be deducted if an employee provides or links PAN with his PF account.
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