People often withdraw the amount deposited in the PF account to complete the necessary work. But many times a small mistake made in the PF account spoils the work made by you due to lack of money. Because this small mistake of yours does not allow to withdraw the money deposited in the PF account. Now the question must be arising in your mind, what is this small mistake? So you don’t need to worry. Because we are going to tell you about it.
Actually most of the people keep multiple bank accounts and they do not do necessary transactions from time to time. Due to which your bank account gets closed. Therefore, whenever you think of withdrawing money from PF account , then update your correct and active account only. Let us know how you can update the bank account in PF account sitting at home.
Process to update bank account details for PF account
>> Most of all go to the official website of EPFO
>> Here you log in with the help of your UAN number
>> After this you will see ‘Manage’ tab on the top menu, click on that
>> Then in the drop down menu ‘ Go to ‘KYC’ option and select ‘Bank’ in document type
>> Enter new bank account details including bank account number and IFSC code
>> After this complete process click on Save
>> After this your request ‘KYC pending It will be displayed as ‘For Approval’
>> After which you will have to submit the required documents to the employer (company you work in)
>> Once approved by the employer, ‘KYC Pending for Approval’ will be changed to ‘Digital Approved KYC’
SBI customers will get this benefit – If your account is with SBI, then it will be automatically verified digitally by the bank. Apart from this, the customer of other bank does not get this facility.
You can check PF balance like this – If you want to check the balance of your PF account. So you have to visit passbook portal https://passbook.epfindia.gov.in/MemberPassBook/Login for this. After this, log in with the help of UAN password and by clicking on the option Download / View Passbook given in front of it, your passbook will be downloaded. In which you can see your full balance.
Strong interest is getting on the money deposited in PF account – EPFO has started transferring the interest for the financial year 2020-21 to the subscribers’ account. EPFO is getting interest on PF at the rate of 8.50%. Which you can easily check with the help of passbook balance.
