EPFO New KYC Update 2022 : Recently, new rules have been issued by EPFO on its member portal for Bank, Aadhar, PAN card KYC. Now you will see a different look while doing KYC of the member portal and has been updated with some more features and new rules than before.
So let’s know, now after these new rules, how will you do KYC in your PF account like bank, aadhaar, pan card etc. And what are the advantages and disadvantages of PF account holders due to these new rules.
EPFO New KYC Update 2022
In order to add KYC to your EPF account, you will need to visit the Unified Member Portal. “manage” on the tab “KYC” You have to click on the option, now after clicking here, now you are getting to see some new type of interface.
KYC Seeded will be invalidated automatically if not approved digitally by the Employer within 60 Days,
This means that when you add your KYC (Bank, Aadhar, PAN Card) on Unified Member Portal, that KYC will be automatically INVALID if it is not approved by your employer within 60 days. In such a situation, the PF account holder will have to do KYC again.
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An OTP will be sent to Your AADHAAR linked mobile for submitting Bank KYC.
This means that when the PF account holder will be sent an OTP on the mobile number linked in his Aadhaar to link the bank KYC. Your bank KYC will be added only after submitting this OTP. And this will provide more security to the PF account holders.
EPFO New KYC Update What are the new changes?
KYC will automatically get invalid if it is not approved by the employer within 60 days. In such a situation, the PF account holder will have to do KYC again.
To add bank KYC, OTP will be sent to the mobile number linked in Aadhaar. Bank KYC will be submitted only after entering the OTP. IFSC Code will be verified online in Bank KYC.
For EPF KYC, now only the option of Aadhar, PAN, Bank, and Passport will be available.
While updating KYC in EPFO, the same name will come automatically as in the UAN account, you will not be able to cloud it.
A notification of KYC approval by the employer will be sent to the mobile number registered in the UAN.
New column for Document Expiry and Status has been added in “KYC pending for approval” section
A new column of action, sign type and action time will appear in “Approved KYC”
How to do EPF KYC?
Login with your UAN number and password.
On the “Manage” tab, click on the “KYC” option.
Whatever KYC you want to add, select aadhar, pan, bank, and passport. Enter the KYC document number and click on the save button
To add Bank KYC, enter the account number and IFSC code and click on Verify IFSC button. After that an OTP will come on the mobile number registered in Aadhaar, enter it and click on submit button.
Your KYC will be successfully ADD.