Updating Your Bank Account Details in EPFO: A Detailed Guide.
How To Change Bank Account In Epfo: Maintaining accurate bank information with the Employees’ Provident Fund Organisation (EPFO) is crucial for the timely credit of your contributions and withdrawals.
This article provides a comprehensive guide on changing your bank account details in EPFO, explaining both online and offline methods.
Before You Begin:
- Ensure you have your Universal Account Number (UAN) and the new bank account details readily available, including the account number and IFSC code.
- Verify your mobile number is registered with EPFO for receiving One-Time Passwords (OTPs).
Online Update (Recommended)
- Visit the EPFO e-Sewa portal: Go to https://www.epfindia.gov.in/.
- Log in: Enter your UAN and password, then click “Login”.
- Navigate to “Manage”: Click on the “Manage” tab in the top menu.
- Select “KYC”: Choose “KYC” from the drop-down menu.
- Update Bank Details: Click on “Bank” under the “Document” section.
- Enter Details: Enter your new bank account number and IFSC code, and confirm the details.
- Click “Save”: Click on “Save” to submit your request.
- Verify with OTP: You’ll receive an OTP on your registered mobile number. Enter the OTP to confirm the update.
Offline Update
- Download the “Employee’s Change Request Form” (ECRF): You can download the form from the EPFO website or obtain it from a nearby EPFO office.
- Fill out the Form: Mention your UAN, current bank details, and the new bank details you want to update.
- Attach Documents: Include a copy of your canceled cheque or bank passbook showing the new account details.
- Submit the Form: Submit the completed ECRF form and documents to your nearest EPFO office.
Additional Tips:
- Both online and offline methods are free of charge.
- The online update is generally faster and easier.
- Allow 2-3 weeks for processing if using the ECRF method.
- Ensure the bank account you’re linking is in your name.
- You can update multiple bank accounts by adding them one by one.
- For any issues, contact EPFO through their grievance redressal mechanism or customer care channels.
FAQ about Updating Your Bank Account Details in EPFO
1. What are the different methods for updating my bank account details in EPFO?
- Online: This is the recommended method as it is faster and easier. You can update your details through the EPFO e-Sewa portal using your UAN and password.
- Offline: You can download the “Employee’s Change Request Form” (ECRF) from the EPFO website or obtain it from an EPFO office. Fill out the form, attach a copy of your canceled cheque or bank passbook showing the new account details, and submit it to your nearest EPFO office.
2. Which documents do I need to update my bank details online?
You don’t need any physical documents for the online update. However, you will need your UAN, password, and the new bank account details (account number and IFSC code).
3. Which documents do I need to update my bank details offline?
You will need the completed ECRF form and a copy of your canceled cheque or bank passbook showing the new account details.
4. Is there a fee for updating my bank details in EPFO?
No, there is no fee for updating your bank details in EPFO, whether you do it online or offline.
5. How long does it take to update my bank details online?
The online update is usually processed within a few minutes. You will receive an SMS confirmation once the update is successful.
6. How long does it take to update my bank details offline?
Allow 2-3 weeks for processing if you submit the ECRF form through an EPFO office.
7. What if I encounter any problems updating my bank details?
If you encounter any problems, you can contact EPFO through their grievance redressal mechanism or customer care channels available on their website or by calling their helpline.
Conclusion
Keeping your bank details updated with EPFO ensures the smooth flow of your contributions and withdrawals. By following these steps and choosing the method that best suits your needs, you can easily update your bank details and maintain a hassle-free experience with EPFO.
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