The Employees’ Provident Fund Organisation (EPFO) has rolled out a new online feature on the Member e-Sewa portal, empowering EPF members to effortlessly complete their Know Your Customer (KYC) process and rectify information in their provident fund accounts. Dubbed “Joint Declaration,” this latest facility aims to streamline procedures for EPF members and eliminate the need for offline submissions.
It’s important to note that this new feature differs from the joint declaration form required by EPF members under Para 26(6) of the EPF scheme. While the latter is mandatory for individuals aiming to contribute additional amounts to their EPF accounts, particularly if their basic salary exceeds the statutory limit (currently set at Rs 15,000 per month).
The recently introduced facility, commonly referred to as the joint declaration, empowers EPFO members to conveniently update their KYC details online. This innovative feature enables members to thoroughly review and amend their personal information directly on the EPFO portal. By utilizing this platform, members can effectively prevent the provident fund authority from rejecting withdrawal requests due to discrepancies.
In recent times, EPFO has encountered instances where withdrawal requests were declined due to inconsistencies in Aadhaar, PAN, and EPFO records. However, with the introduction of this new feature, EPFO account holders now have the flexibility to rectify errors and make necessary modifications from anywhere in the world, catering to their convenience.
It is noteworthy that a significant number of rejected EPF claims stem from inconsistencies in vital documents such as PAN, Aadhaar, and EPFO records. Therefore, it is imperative for EPFO members to ensure that their records are updated with accurate information to facilitate successful EPF claims processing. This underscores the importance of leveraging the new online facility to maintain updated KYC details, ensuring a seamless and hassle-free experience for EPFO account holders.
Comprehensive Guide to Updating KYC Details Online:
Before embarking on the journey of updating your KYC details online, it is imperative to gather all essential documents, as certain particulars may have limited correction allowances. EPFO provides flexibility for updates concerning 11 personal information categories and 6 service-related details.
Personal Details Eligible for Update:
- Name
- Date of Birth
- Gender
- Parental details
- Relationship status
- Aadhaar number
- Marital status
- Nationality
Service Details Eligible for Update:
- Date of joining
- Date of leaving
- Employee Provident Fund (EPF)
- Reason for leaving EPF
- Date of joining and leaving Employee Pension Scheme (EPS)
- Reasons for leaving EPS
Now, let’s delve into the step-by-step process for updating KYC details online:
- Access the Member e-Sewa portal through your preferred web browser.
- Log in using your Universal Account Number (UAN) along with your password. Complete the security captcha to proceed.
- Verify your identity by entering the One-Time Password (OTP) sent to your Aadhaar-linked mobile number.
- Navigate to the “Manage” section and select “Joint Declaration.”
- Choose the specific member ID for which you intend to correct the details.
- Alternatively, if you’re making routine KYC updates without changes, utilize the KYC option under the “Manage” tab.
- Review the EPFO records meticulously and make necessary amendments in the provided editable box.
- Provide consent for Aadhaar verification and proceed by clicking on the “Proceed” option.
- Upload all required documents corresponding to the changes made, ensuring they meet the specified criteria.
- Once all modifications are finalized, click on the “Submit” button to initiate the process.
Following successful submission of the joint declaration, the document will be forwarded to your employer for approval. Upon receiving approval from the employer, the updated details will reflect on the EPFO portal. In the event of any discrepancies detected by the employer, the request may be rejected.
Subsequently, the approved joint declaration will be forwarded to the EPFO office for final approval. Once endorsed by the Provident Fund (PF) authority, the updated information will be officially incorporated into the EPFO database.
It’s essential to note that the timeline for completing the KYC update procedure may vary, typically ranging between 20 to 25 days, depending on the processing time of each stage. Therefore, it’s advisable to exercise patience throughout the process.