Step-By-Step Guide: How to Activate Your EPF Account And Update Bank Details

How to Activate Your EPF Account And Updating Bank Details: EPF, or Employee Provident Fund, is a significant scheme governed by the Employees' Provident Funds and Miscellaneous Act, 1952. It's managed by the Employees' Provident Fund Organisation (EPFO). Most establishments with 20 or more employees are covered, with some exceptions for smaller organisations.

Both the employee and employer contribute 12% of the employee's basic salary and dearness allowance towards EPF. Upon retirement, the employee receives a lump sum including both contributions and interest. Currently, the interest rate is 8.25% p.a.

EPFO, a non-constitutional body under the Ministry of Labour and Employment, Government of India, encourages retirement savings. It administers schemes for Indian and international workers.

EPFO's main objectives include ensuring each employee has only one EPF account, facilitating compliance, and improving online services. The Universal Account Number (UAN) simplifies accessing PF accounts online. It's a 12-digit number linked to the member ID, enabling seamless job changes without affecting the UAN. Employees must activate their UAN to access online services.

EPFO Office

You can obtain your UAN from your employer or through the UAN portal. Simply log in with your member ID to find your UAN.

Are you ready to take control of your Employees' Provident Fund (EPF) account and ensure your financial security? Understanding how to activate your EPF account and update crucial bank details is pivotal in managing your funds effectively. In this comprehensive guide, we'll walk you through the simple steps to activate your EPF account and ensure your bank details are up to date.

Follow these steps to activate your UAN number:

UAN Activation Process:

When you change jobs, your EPF account number and member ID change, but your UAN stays the same. If you end up with two UANs, inform your employer and EPFO immediately to deactivate the old UAN and transfer your EPF funds to the new account.

Generating UAN for EPF:

When you join a new job, your employer should generate a UAN for you if the company has 20 or more employees. If you already have a UAN from a previous job, provide the details to your new employer. Here's how your employer can generate a new UAN for you:

Log in to the EPF Employer Portal.

• Click on "Register Individual" in the "Member" section.
• Enter your details like PAN, Aadhaar, bank details, etc.
• Approve all the details.
• EPFO generates a new UAN, which your employer links to your PF account.
• Knowing Your UAN:

After your UAN is generated and linked to your EPF account, your employer usually provides it to you. But you can also find it yourself:

EPFO

• Visit the EPFO Member Portal (https://unifiedportal-mem.epfindia.gov.in/memberinterface/).
• Click on "Know your UAN."
• Enter your mobile number and other details.
• Verify with OTP and captcha to find your UAN.
• UAN Activation Through the UAN Portal:

Before using any online EPF services, you must activate your UAN. Follow these steps:

EPFO

• Visit the EPFO Member Portal.
• Click on "Activate UAN."
• Enter your UAN, Aadhaar number, and other details.
• Get an authorization PIN on your registered mobile.
• Validate OTP and activate your UAN.

Easy Steps To Link Aadhaar with UAN:

Once you're logged into your EPF account, link your UAN with Aadhaar:

• Login to your EPF account.
• Click on "KYC" and add your Aadhaar details.
• Save the changes.
• Documents Required for UAN Activation:

When activating your UAN, provide the following documents:

• Aadhaar card
• PAN card
• Bank account details and IFSC
• Any other required proof of identity or address.
• Updating Bank Details in EPF Account:

Follow these steps to update your bank details:

• Go to EPFO's member portal.
• Log in with your UAN and password.
• Navigate to 'Manage' > 'KYC.'
• Select your bank and update details.
• Confirm changes and save.
• Submit required documents to your employer.
• By following these steps, you can efficiently manage your EPF account and ensure your financial security.

Steps to Apply For EPF Withdrawal Online

epf/istock

Step 1: Visit the EPF UAN portal.


Step 2: Log in with your UAN and password. Enter the captcha and click on the ¡®Sign In¡¯ button.

Step 3: Click on the ¡®Manage¡¯ tab and select ¡®KYC¡¯ to check whether your KYC details such as Aadhaar, PAN and bank details are verified or not.

Step 4: Once the KYC details are verified, go to the ¡®Online Services¡¯ tab and select the option ¡®Claim (Form-31, 19 10C & 10D)¡¯ from the drop-down menu.

Step 5: The following screen will display the member details, KYC details and other service details. Enter your bank account number and click on ¡®Verify¡¯.

Step 6: Click on ¡®Yes¡¯ to sign the certificate of the undertaking and then proceed.

Step 7: Now, click on ¡®Proceed for Online Claim¡¯.

Step 8: In the claim form, select the claim you require, i.e. full EPF settlement, EPF part withdrawal (loan/advance) or pension withdrawal, under the tab ¡®I Want To Apply For¡¯. If the member is not eligible for any of the services like PF withdrawal or pension withdrawal due to the service criteria, that option will not be shown in the drop-down menu.

Step 9: Then, select ¡®PF Advance (Form 31)¡¯ to withdraw your fund. Further, provide the purpose of such advance, the amount required and the employee¡¯s address.

Step 10: Click on the certificate and submit your application. You may be asked to submit scanned documents for the purpose you have filled the form.

epf withdrawal steps/cleartax

Also Read: Here's How Salaried Employees Can Check Their EPF Balance


Documents Required for EPF Withdrawal

The following documents are necessary to withdraw PF amount:

Universal Account Number (UAN)

Identity and address proof

Cancelled cheque with IFSC code and account number

Bank account information of the EPF subscriber

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