If you are employed, your PF should also be deducted. The amount of PF Amount is considered very important for retirement, this amount can help you a lot in retirement. It is therefore advisable not to withdraw PF amount. Meanwhile, bank details play a major role in the Employees Provident Fund Organization (EPFO).
Your bank details should be updated so that there will be no problem in cash transactions. If you have changed jobs and have not updated your bank account, you may suffer a lot. So you can update your bank details at home. If your old or incorrect account number is given in EPFO, you can easily update your new bank account with UAN i.e. Universal Account Number.
This is the process ...
- Visit EPFO's official website and log in with your details.- Click on the 'Manage' tab on the top menu.- From the drop down menu go to 'KYC' option and select 'Bank' in Document Type.- Enter new bank details with bank account number and IFSC code.- Click 'Save' to upload updated bank details. Your request will then appear as KYC Pending for Approval.- Now submit the required documents to your company.- After receiving approval from the company, you will see that the digitally approved KYC pending for KYC approval is converted into KYC.