EPFO Bank Account Update: EPFO has given the facility to add two bank accounts to PF account. This step will provide a lot of convenience to the employees.
New Delhi:
Provident Fund Account is an essential financial scheme for employed people. This scheme not only encourages the habit of saving saving, but is also very useful during emergency. EPFO (Employees Provident Fund Organization) operates this account. 12 % of the employee’s salary is deposited in PF account every month. The company also contributes the same amount to the employee’s account. That is, this account is based on the joint contribution of the employee and the company.
PF account provides financial security to employees at the time of need. Through this scheme, the government is trying to do not face economic crisis after retirement or in the event of any emergency.
Facility to connect two bank accounts to PF account
You can withdraw the amount deposited in your PF account before retirement for some specific work. That amount is sent to your PF account linked bank account. But sometimes the bank account linked to PF account is closed or inactive. Due to which the PF account holder can get a problem in getting the amount of his PF. Keeping in mind many such cases, EPFO has given the facility to connect two bank accounts with PF account. This step will provide a lot of convenience to the employees.
This is how another bank account link from your PF account
If the bank account linked to your PF account is not active, or you want to add another account with that account. So for that, you have to follow the steps given below.
- Step 1 – First you have to go to EPFO’s https://unifiedportal-mm.epfindia.gov.in/memberinterface/ Members portal. Then to login, you have to enter your UAN and password there.
- Step 2 – Then you have to click on the ‘Manage’ tab. After this, you have to select the option of ‘KYC’ from the drop down menu. Here you will see the option of linking another bank account.
- Step 3 – Now all the information related to your second account like new bank account number, IFSC code, and other information you will have to fill.
- Step 4- After filling all the information of the second bank account, you will be sent an OTP to your registered mobile number for verification,
- Step 5 – Finally complete the process by entering this OTP.
- Step 6 – As soon as your second account gets activated after this entire process. You can transfer the amount of PF account in it.
Keep these things in mind while linking bank account
Remember, to make another bank account linked, it is necessary to complete his KYC.
Only active and valid accounts can be linked.
Take special care while filling the bank details, so that there is no possibility of mistake.
