EPFO enables UPI PF Transfers- 5 details to update right away to avoid delays!
- Activate and check your UAN
Online activation of UAN & all other services of EPFO are already enabled through member portal i.e. http://member.epfo.st. Employee should activate his UAN & ensure that all 5 details are updated correctly to avoid last minute problem. EPFO online services for PF withdrawal & online claim transfer are already available on member portal i.e. http://member.epfo.st. Employee needs to login to his account using his UAN & password. If he forgets his password then he can reset it by clicking on “Forgot Password”. Employee also needs to check if his mobile number is correctly registered in UAN portal.
Employees can login to EPFO Member Portal for the following online services. To update employee information on EPFO website, it is prudent to login to EPFO Member Portal first to update the information. If EPFO member has forgotten login password or has changed the registered mobile number of employee, it is better to update EPFO records through employee login as well.
- Match Aadhaar, PAN and name records
Seeding of Universal Account Number (UAN) with Aadhaar is mandatory. The details such as name, date of birth and gender in EPFO records should match with the details available in Aadhaar database. Any discrepancy in these details would prevent UPI-based verification and subsequent processing of EPF claims.
Most of the practical problems in PF claims are because of name, date of birth or father’s name not matching in Aadhaar, PAN, Employer’s data and EPFO’s records. Hence, it is mandatory to get Aadhaar seeded with UAN and update PAN details in UAN Portal also as non-verified PAN attracts higher rate of TDS on taxable part of PF withdrawal and creates authentication problems while processing claims digitally.
- Update the bank account carefully
The account number, IFSC code and name of account holder as filled by employee in EPFO portal should be same and updated/ corrected as the case may be.
Bank Account Details: The EPF account holder needs to enter the bank account details that are to be credited with the PF transfer amount. It is important to enter the correct IFSC Code of the bank account and also enter the account holder’s name correctly so that there is no discrepancy during transfer. Also, it is important to verify the bank account details entered in the EPFO portal, as failed transfers can occur if the account has been closed or incorrect account details have been entered. As transfers through UPI are enabled through banking systems’ UPI enabled applications, the bank account details which are mapped with EPFO will continue to remain relevant for PF transactions. Therefore, it is advisable that employees map their active account / salary account / account in same name as that of EPFO member in EPFO portal. In case of transfer rejection, reasons such as Dormant account / Joint account with name mismatch / Old salary account could be the reasons. Further, Primary UPI ID should be active and should be linked with correct bank account and should not be blocked due to reasons such as device change etc. KYC also needs to be completed on UPI App.
- Mobile Number & UPI Handle to be ready
Employee’s should also check the mobile number (Aadhaar linked/ UAN linked) which would be used for OTP based authentication for the transactions done through UPI enabled services. Ideally, it should be same i.e. Aadhaar linked mobile number, UAN-registered mobile number and the UPI enabled mobile number. - Clean up service history and nomination
Verify your employment details in EPFO database and update your e-nomination details if required to transfer your EPF account to new service provider, process claims and settle claims amount quickly. Verify following points for Employee. Employment details entered by all previous employers are correct. Employment dates for previous employment entered by employer are correct. Date of exit from service for previous employment entered by employer is correct. EPF accounts of previous employment are mapped with UAN of member. E-nomination of Employee is complete and updated.
If Employees have recently got married, have changed their dependents or have updated their family details, it is advised that they revise their nominations in their respective EPF accounts as well.
Important
Good news for EPF subscribers: You can now transfer your EPF money via UPI. But do not expect UPI facility to resolve all errors in your service records. Your clean claim will reach your account faster but it will not help in rectifying your faulty records. It is therefore very important to get your service records in order before you require your money.
Employees’ Provident Fund Organisation is all set to enable UPI for PF transfer and here are 5 steps to activate your EPF account and EPFO enabled digital services to transfer your provident fund money using UPI.
Verifying details in your EPF account before EPFO starts UPI PF transfers will ensure the EPF account processes transfer of provident fund money the fastest if all the details are updated and verified. Some of the information that needs to match are details in KYC records, mobile numbers in EPFO records and Aadhaar records, bank account numbers and IFSC codes and name in EPFO records and Aadhaar and PAN cards.