EPF Account KYC- If you have not yet updated KYC in your EPF account, then it is very important. Without this, the PF withdrawal claim can get stuck.
Whether a bank account or provident fund account (EPF account), KYC is required everywhere. If your KYC is incomplete anywhere, your account can be closed at any time. It is not possible to withdraw money without KYC, especially in the case of Employee Provident Fund. Therefore it is important that you also complete your EPF Account KYC. So far, 66 percent of the total people in EPFO have updated their KYC. If you have not yet updated your EPF Account KYC, then it is very important. Without this, the PF withdrawal claim can get stuck.
The EPFO has directed all companies and institutions to make 100 per cent KYC in the UAN of EPF account holders. According to EPFO, it is necessary to have EPF Account KYC. In 2014, EPFO issued a 12-digit Universal Account Number (UAN) to speed up the service related to the Provident Fund. Now all accounts are linked to UAN. From this, information related to any provident fund can be obtained in the future. Also, the entire service history is added to it.
Which documents are necessary
Aadhar number, bank account number, PAN and mobile number need to be updated for EPF Account KYC. The advantage of the KYC update is that you can get complete information about your account sitting at home on your mobile number. Due to this, no claim is trapped.
What are the benefits of having KYC?
1.Accounts in which KYC document process is completed, they never face any problem in money transfer or withdrawal.
2.If your bank account information is not updated in your EPF account, then the claim request can also be rejected.
3. If you have not submitted KYC documents, then you will not receive any SMS alert to the EPF member.
4.You can update your KYC by going to the EPFO UAN portal https://unifiedportal-mem.epfindia.gov.in/memberinterface/.
How to get KYC done at home
You do not need to go anywhere to get EPF Account KYC. Rather, this can be done from the UAN portal itself. First of all go to your portal and click the option of KYC here. Now the window is open in front of you, there will be many options visible in it. Here, click on the section with PAN, Aadhaar, mobile number, bank account one by one. Fill in your information and submit it. Now your PAN and Aadhaar will be added to it. However, to verify this, you will have to ask your employer. As soon as the employer is verified, you will be able to take advantage of the online facility.
Money will come out in 3 days
The advantage of online claim settlement is that if you want to withdraw your PF and your EPF Account KYC is updated, then EPFO will process your claim in just 3 days. After this, the money of EPF will come directly into your bank account.