EPF Account Online: Quick Steps To Update KYC Details Online

The Employees' Provident Fund Organisation (EPFO) launched an online feature on the Member e-Sewa portal thus letting the scores of EPF members to complete their KYC or Know Your Customers process and correct information of their provident fund accounts. The latest facility has been named as "Joint Declaration" can effectively streamline the procedure for EPF members and eradicate the requirement for offline submissions.

The latest facility is different from joint declaration form needed by EPF members under Para 26 (6) of EPF scheme. The form is a must for the desiring to contribute additional to their EPF account if their basic salary is more than the statutory limit (presently Rs 15,000/month).

The new facility, popularly known as joint declaration, lets the members to update their KYC details online. It allows members to review and amend their personal details on the EPFO portal. If they follow this, they can stop the provident fund authority from discarding withdrawal requests. Recently, EPFO rejected withdrawals as a result of inconsistencies in Aadhaar, PAN, and EPFO records. With this introduction of this new feature, EPFO account holders can modify and correct mistakes from any corner of the world as per their comfort.

It is worth mentioning here that the maximum rejected EPF claims arise from inconsistencies in key documents such as PAN, Aadhaar, and EPFO records. Thus, it becomes imperative to ensure that all EPFO records have been updated with correct details to enable successful EPF claims.

Steps To Follow For Updating KYC Details Online:
Prior to starting updating the KYC details online, it is important to collect all key documents as some particular details have limited correction allowances. EPFO allows updates for 11 personal information and 6-services related information.

Personal Details: It will include name, date of birth, gender, parental details, relationship status, Aadhaar number, marital status, and nationality.

Services Details: It will include details such as date of joining, date of leaving, EPF, reason for leaving EPF, date of joining and leaving Employee Pension Scheme or EPS, reasons for leaving EPS.

Quick Steps To Update KYC Online

• Go to Member e-Sewa portal. Log into it with UAN, password, and fill the captcha. Cross check with the help of OTP sent to your Aadhaar-linked mobile number.
• Choose "Manage" and now "Joint Declaration". Now select the member ID where you need to correct the details. For routine KYC updates without changes, use KYC option under "Manage".
• Review EPFO records to introduce to make required edits in the given editable box. Consent to Aadhaar verification and press on the "Proceed" option.
• Upload the necessary documents corresponding to changes made. Now press on "Submit" button in order to complete the procedure.

Soon after successfully submitting the joint declaration, it will go to employer to seek approval. Changes will reflect on the EPFO portal after PF authority gives approval. Employer will cross check the details in their respective records and give approval to the requests. If there is some discrepancy, it will be rejected right away by the employer.

After getting approved from the employer, the joint declaration will be forwarded to EPFO office. Changes will reflect on EPFO portal after PF authority gives their approval. Generally, the KYC update procedure takes nearly 20-25 days.