EPF withdrawal: ALERT! Do you have Provident Fund account? Don't do this or you may land in trouble
EPF Withdrawal: Employees Provident Fund for the salaried is very valuable. For employed it works like a savings bank account as individuals a portion of salary accumulates in the account as well as provides interest. However, the interest it provides is much, much higher than what any bank savings account gives.
EPF Withdrawal: Employees Provident Fund for the salaried people is very valuable. For employed it is like a savings bank account as individuals a portion of salary accumulates in the account as well as provides interest. However, the interest it provides is much, much higher than what any bank savings account gives.
Notably, when employees seek to withdraw the PF amount, they have to put a lot of effort to take out that money. So, the Employees' Provident Fund Organisation (EPFO) has recently revised PF withdrawal rules and made it very easy to apply. With the revised rules, now employee will be able to claim your Provident Fund in merely 3 days.
However, before claiming for PF, the employee needs to check KYC properly and not make any mistake in the PF account. Besides linking account with Aadhaar and UAN, it is necessary to update your PF account with KYC.
Provident Fund claim: DO NOT make this mistake:
Your PF claim settlement can be scuttled if the details required while applying for the withdrawal, mismatch. Individuals need to be careful while applying for PF amount. The employee should take the necessary precautions and keep a check on KYC in time to save yourself from any trouble.
Steps to change KYC in PF account:
1. You should fist visit the Unified Portal of EPFO, and login by entering UAN and password
2. On the home page, you should select "Manage> Modify Basic Details"
3. If your Aadhaar is verified, then you cannot edit the detail.
4. Fill up the details, registered with your Aadhaar card, so that the system may verify it with the Aadhaar data
5. Click on “Update Details”, now the information will be sent to the employer for approval
Steps for linking UAN to Aadhaar using biometric credentials:
1. Visit https://iwu.epfindia.gov.in/eKYC/
2. Click on 'Link UAN Aadhaar' under 'For EPFO members'
3. Input your UAN
4. An OTP will be sent to the UAN registered mobile number.
5. After OTP Verification, input Aadhaar details
6. Select Aadhaar verification method (using Biometrics).
7. Biometric will be captured using registered biometric device.
8. After verification, Aadhaar will be linked with UAN where UAN and Aadhaar details are matched.
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