Bank Account Link With EPF Account: When you withdraw funds from EPF, that money goes directly to the bank account which is linked to the EPF account. But if the account linked to the EPF account has been closed, then you will have to link the new account. Know its process here.
New Bank Account Link With EPF Account: If you work in the organized sector, then every month a part of your salary is deducted and goes into the EPF account. Apart from the employee, money is also deposited in the EPF account on behalf of the company. A good amount of interest is earned on this amount deposited every month. At present, interest is being given on it at the rate of 8.25 percent. A good retirement fund can be added through EPF. If needed, partial withdrawal from EPF fund and even after leaving the job can be done with certain conditions.
When you withdraw funds from EPF, the money goes directly to the bank account which is linked to the EPF account. But if the account linked to the EPF account is closed, then you will have to link a new account from which you can withdraw the amount. If you also have this problem, then there is no need to worry. Know here how to link new bank account to EPF account.
This is the process of linking a new account
- For this, first of all you have to go to EPFO’s unified member portal https://unifiedportal-mem.epfindia.gov.in/memberinterface/.
- Log in here by entering your UAN, password and captcha code.
- After this click on the ‘Manage’ tab. After clicking, a drop down menu will appear in front of you. You have to go to this menu and select the option of KYC.
- After this, select your bank and fill the bank account number, name and IFSC. After filling the details, click on submit.
- After submission, the process of linking your bank account is approved by the HR department of your company. As soon as approval is received, your bank account is linked to the PF account.
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