Update New Bank Details in EPFO Account With Simple Steps

All EPFO members or EPF account holders should keep their personal and bank details up to date. They recheck the existing information on the portal for any mistakes and make sure their PF account is active. With the developing technology of our country, EPFO or Employees Provident Fund Organisation has adopted a completely digital approach towards providing seamless services. The EPF members can now update their basic details online with a hassle-free process in their EPFO account. However, to use these services account holders must know their Universal Account Numbers (UANs).

Updating Bank Details Online in EPFO Account

What is EPF?

EPF or Employees’ Provident Fund, regulated and managed by Employees’ Provident Fund Organization (EPFO) is a retirement-based long-term savings scheme for salaried individuals to save a little portion of their salary every month. Both employee and employer contribute 12 per cent of their basic salary and dearness allowance into this scheme.

What is UAN?

EPFO members allotted a UAN or Universal Account Number to every PF account holder. This unique code works as a repository and allows these members to access, manage, and modify information on their EPF accounts. Moreover, no matter how many Member IDs have an EPF member they all will be linked to a single UAN to access them easily.

Also read:

New EPFO Rule: PF Withdrawal Before 5 Years Will Attract Tax

How to Update Bank Account Details in EPF Account Online?

Follow these simple steps to update bank details in your EPF account online:

• First, log in to the official EPFO Portal using your Password and UAN.
• Now from the top menu option please choose ‘Manage’.
• Next, choose ‘KYC’ from the drop-down menu.
• Then select the ‘bank’ option as you proceed.
• On the next page, you update your bank account details. To do so please enter the new IFSC Code, Bank Name, Account Number, etc.
• Now press Save to proceed further.
• Once you have submitted your KYC request it will show under the ‘KYC pending for approval’ section.
• You will receive an SMS as confirmation.