Every salaried person deposits a part of his life’s earnings in the PF account. He gets this money in the form of retirement fund. Along with this, you can withdraw money from PF account for expenses like in case of illness, education or marriage expenses of children, for buying a house etc.
The government had closed the old pension scheme in the year 2004. In such a situation, the Employees’ Provident Fund Organization was created for the first government employees. Later, private employees were also included in this. Every month 12 percent of the basic salary of every EPFO account holder is deducted as PF. Apart from this, the Employer Company also deposits 12 percent salary of the employee in PF.
The employee can withdraw the money deposited in PF in full after retirement. After the process of EPFO nomination in this account is completed, you can also take advantage of an insurance policy of Rs 7 lakh. If you want to update in any way in PF account, then you can do this work online. So let us tell you about the process by which you can update mobile number and other details in PF account.
To update bank details, you first click on https://unifiedportal-mem.epfindia.gov.in/memberinterface/. This is the official website of EPFO. Then enter your UAN number, Password and Captcha.
After that click on Manage option. Then a page will open in which you have to click on Click on KYC Document To Add. Here you will see the option of bank details, click there.
Source By: businessleague