KYC For EPF UAN
The government has done it mandatory for workers to comply with KYC requirements in their EPF accounts. Employees who want to upgrade their EPF KYC can use the EPFO Member e-SEWA Portal to access a range of online services, including nominations, account changes, withdrawal requests, and more.
Furthermore, if the KYC is out of date, the EPFO is likely to refuse the employee’s EPF withdrawal request.
The EPFO online portal makes it simple for employees to update their KYC information. The implementation of the Universal Account Number (UAN) in 2014 made the EPFO KYC upgrade process much easier.
Employees will need the UAN credential in order to complete the EPFO KYC update process. Since the UAN is connected to the employee’s Aadhaar card, the employer would be able to accept the withdrawal claim sooner, unlike in the past, where an employee requires their employer’s attestation to request an EPF withdrawal claim.
How to Complete the KYC Process?
Account holders must follow a few simple steps in order to vote for the UAN KYC update. They are as follows:
- Visit the EPFO’s official website to begin the EPF KYC process.
- Use your password, UAN, and the captcha code to access your EPF account.
- Locate the ‘Manage’ tab and choose the “KYC” option from the drop-down menu.
- Fill in the necessary information on the KYC form, such as bank account information, PAN, Aadhaar, driver’s license, passport, election card, and National Population Register (NPR).
- Input the document number, your name as it appears on the document, and any other pertinent information, such as the following IFSC code for bank account information, and the expiration date for documents such as a driver’s license or passport.
- To save all changes, tap the ‘Save’ option until all information has been entered.
- Check the ‘Pending KYC’ section to see if the information has been saved.
Cancellation, as well as a status check
- If you have any second thoughts at this stage, you can cancel the entire process by clicking the ‘X’ sign located next to the paper.
- After you’ve completed the update, go to the ‘KYC Pending for Approval’ section to see how the UAN KYC update is progressing.
- The information is checked by the EPFO’s concerned department, and the status of the KYC update is listed as “Digitally Approved KYC.”
- You will obtain an SMS confirmation after the successful PF KYC update.
Key Points to Note
The following are some key points to keep in mind:
- PAN card, Aadhaar card, passport, ration card, voter ID, driving license, and bank details are all valid documents when approaching EPFO KYC update.
- Members must ensure that the information given when updating the details of documents such as Aadhaar cards, PAN cards, passports, bank accounts, and so on is fully correct.
- The employer can take up to 2-3 days to approve the EPFO KYC update after the account holder has given the necessary information.
- TDS of 34.608 percent is applied to PF withdrawals made during the first five years of operation. However, if the PAN has been upgraded with an EPF account, the TDS fee is reduced to 10%.
✅ What steps to update my EPF KYC?
With the implementation of the Universal Account Number, the EPF KYC upgrade process has become absolutely painless (UAN). By visiting the EPF member portal and logging in with your password and UAN, you can make adjustments to your EPF account. Fill in the blanks on the form and make any required adjustments. In 2-3 days, you can have your EPF KYC updated.
✅ Who will be the first to approve KYC in the EPF?
If the inputs for the documents have been entered into the portal, the EPFO’s concerned department or a particular employer must authorize the inputs. The approval can take up to 3 days, after which you may monitor the changes on the EPFO online portal under the ‘KYC pending for approval’ section.
✅ How can I search for the status of my UAN KYC online?
To check your UAN KYC status online, go to EPFO’s online portal and check the status of the update using your UAN (Universal Account Number) card. Log in to your EPF account via the Member e-SEWA portal and select ‘UAN card’ from the ‘View’ tab. Your UAN card will display ‘Yes’ if your EPF account is KYC compliant.