An employee can update KYC details on EPFO UAN online, all by himself. KYC stands for know your customer and UAN stands for Universal Account Number. If you are thinking of withdrawal/transfer of EPF account due to change in your job, you should update KYC details on EPFO UAN portal. Now two basic questions are: How to update KYC in EPF portal? Which documents are required to update the KYC details on EPFO UAN? I have answered these questions in the article below.
Why should I update KYC details on EPFO UAN portal?
Although is not mandatory to update KYC details on UAN EPF portal, but there are numerous benefits for updating KYC details. Few of them are:
- After updating KYC details in UAN EFP portal, employee can withdraw the money without contacting his/her employer. Believe me, it’s a tedious task for many of the employees to go to previous company for signature(s).
- Once the KYC is complete, you relieve yourself of tedious documentation required for offline EPF withdrawal. You can easily request PF withdrawal using online portal.
- For KYC to be complete, you need to have UAN. Once you have UAN for EPF, employee can see monthly PF contribution in the online passbook. You will also get SMS notification on monthly contributions towards EPF.
- If KYC details on EPF UAN are up to date, you get benefit on TDS deduction in case of withdrawing PF before 5 years of employment. If you update PAN on UAN EPFO, 10% TDS will be deducted. Otherwise, 34.6% TDS will be deducted.
Which documents are required to update KYC details in EFP UAN online?
The following documents are eligible to be considered for updating KYC in EPF portal.
- National Population Register
- PAN (Permanent Account Number)
- Bank Account Number(along with IFSC number)
- Driving License
- Election Card
- Ration Card
What are the steps to update KYC details on EPFO UAN?
Follow following steps to update KYC details in UAN EPFO
- Go to https://unifiedportal-mem.epfindia.gov.in/memberinterface/
- Fill in your UAN, password and the Captcha. Now click on Sign in button.
- Go to ‘KYC’ link under the Manage tab menu option.
- The form shown below will open. Click on checkbox against the document you want to update on the EFPO portal. Now fill in the details on this form.
- After filling in all the details, click Save button.
- Now you data is saved under ‘Pending KYC’. The details updated by you will be verified by your employer. After that the status will change to ‘Approved KYC’.
Please note that your employer needs digital signature in order to authorize your KYC. The exact time taken to get Approved KYC depends on your employer. But once the employer approves the details, it takes around 48-72 hours to reflect the approval status in the system. You will also get a SMS on your register mobile number after the status changes to Approved KYC in EPFO portal.