Change has always been the driving force for the Employees’ Provident Fund Organisation (EPFO) in view of better member service. The recent change allows the linking of several bank accounts in Provident Fund (PF) account for making money transactions. This guide will step-by-step elucidate linking multiple bank accounts to your PF account.
Why Link More Than One Bank Account with EPFO?
Linking multiple bank accounts could help EPFO in many ways:
- Backup Transactions: Whenever something goes wrong with your primary account, a secondary account can be used.
- Quick Withdrawal: In case of any delays/technical glitches associated with one account, the other account can be used for withdrawal of PF funds.
- Enhanced Security of Finances: Multiple accounts would mean that you are guaranteed access to your savings at all times.
Procedure To Add Multiple Bank Accounts To Your PF Account
Step 1: Visit The EPFO Member Portal
- Visit the official EPFO portal: [https://unifiedportal-mem.epfindia.gov.in](https://unifiedportal-mem.epfindia.gov.in).
- Login with your UAN (Universal Account Number) and password.
Step 2: Navigate To Manage
- Select the tab Manage’ once in.
- Click on ‘KYC’.
Step 3: Adding Your New Bank Account:
- Here, at KYC, find the ‘Bank’ option.
- Provide the new Bank Account data that you would want to link-in i.e. Account Number, IFSC Code, and Bank Name.
Step 4: Verify & Submit:
- After inserting the details, click on ‘Save’ for the request to be submitted.
- These changes will be credited against your account only after being approved by your employer.
Step 5: EPFO Approval:
Once you’ve submitted your documents to EPFO, get all your bank details verified. Approval would show that your additional bank account would link with your PF account.
Important Points To Note
- Only one bank account can be marked as primary for PF withdrawals.
- New account should match EPFO records otherwise changes will be rejected.
- Making changes with EPFO will take a few extra days on account of the series of approvals required on the part of EPFO and Employer.
Conclusion
Bringing multiple banks into the folds of an PF account guarantees security and hassle-free diversion of activities. Anyone who follows the above steps should have no problem online updating their banking information as an EPFO customer. Remember to keep your power-up-to-date with EPFO updates to enjoy the benefits the Provident Fund has to offer you.
Also Read: EPFO Announces Pension Hike: Private Employees To Get Increased Monthly Pension