How to Link an Active Bank Account with EPFO for Smooth Pension Withdrawals
Updating your linked bank account with EPFO is essential for secure retirement savings management. This guide explains how to check current links and change them if necessary to avoid withdrawal issues.
Highlights
- •Importance of linking a new active bank account with EPFO
- •How to check currently linked accounts through Employee EPFO Member Portal
- •Steps to update linked account via UAN number and e-Seva Portal
- •Approval process before using the updated account for withdrawals
Employees participating in the Employees' Provident Fund Organisation (EPFO) can now easily link their new bank accounts to ensure smooth pension withdrawals. This process is simple and crucial, especially when older accounts have been closed or need updating.
How to Check Your Linked Bank Account
Easily check which bank account is linked with your EPFO by visiting the Employee EPFO Member Portal. Enter your login credentials to access it and see if your current linked account is active. If not, change it immediately before facing withdrawal problems.
Steps to Change Your Linked Account
To make the necessary changes, first log in through UAN number and password on the EPFO Member e-Seva Portal. Next, click on the 'Manage' menu option and select 'KYC.' Within this section, choose the 'Bank' option to enter your new account information.
Before finalizing, ensure all fields are correctly filled out, including the IFSC code for accuracy. After submission, wait until both your bank and employer approve the changes before using the updated account for withdrawals or other transactions.
