Changed your job? Update your salary account or your PF money may get stuck
New Delhi (The Uttam Hindu): Often employees change their salary account along with changing jobs. Sometimes a new account is opened due to the rules of the new company, and sometimes in the desire for better banking facilities and lower charges. But in this entire process, people forget one most important thing that the Employees Provident Fund Organization (EPFO) always sends the PF money to the same bank account which is linked to your Universal Account Number (UAN). If your old account is closed or inactive, then your claim may get rejected at the time of PF withdrawal. Often employees come to know about this problem when they are in dire need of money and they apply for the claim.
Before making any changes, check these things on the portal.
Before updating your bank account details, it's important to log in to the EPFO Member e-Seva portal to verify which bank account your UAN is currently linked to. Many people are under the misconception that bank details are automatically updated upon changing jobs, but this is not the case. Also, ensure that your Aadhaar and PAN cards are fully verified. Even minor spelling errors in your name or other information will result in your update request being rejected by the system. Therefore, if any mismatch occurs, have them corrected before proceeding further.
How to update your new bank account in EPFO
After logging in to the portal, go to the 'Manage' section and click on the 'KYC' option. You will see your existing bank account there. Next, enter your new bank account number and IFSC code very carefully, as most mistakes occur when entering the numbers. If necessary, upload a clear photo of a canceled check. After submitting the details, your request is not processed directly; it goes to your current company for approval. If your company's HR department does not approve it, no changes to your account will be made. Therefore, instead of waiting indefinitely while your request is pending, contact your company's salary or HR department immediately.
Do this work in time to avoid future problems
If you file a PF withdrawal claim and your bank details are found to be incorrect, the EPFO will not process the payment. Your claim will be rejected, and you'll have to start the entire process over again. Having money stuck when withdrawing a PF advance after leaving a job or in an emergency situation can be extremely stressful. It's important to always remember that your UAN number remains the same throughout your career, and only one bank account can be active under it at a time. Therefore, whenever your salary account changes, make it a priority to update it on the EPFO portal. This simple five-minute task can save you weeks of hassle in the future.