- There is no charge for updating KYC.
- There is no problem in money transfer or withdrawal with KYC update.
Due to the economic downturn, people are facing financial constraints. In such a situation, many people are planning to withdraw money from their PF account. If you are making a similar plan, then it is very important to have a KYC update. Claim request can be rejected in case KYC is not updated. You can update KYC online at home. For this you will need UAN. If you too have to update your KYC, then its online process is telling.
This is process
- The first is to go to the EPFO member portal, epfindia.gov.in.
- Login with username and password.
- Go to the Manage option in the top menu bar.
- Select the ‘KYC’ option from here.
- A new page will open in which a list of different documents types will be present.
- Fill in the document number, name as per the document and other details like IFSC in case of bank details and expiry date in case of passport and driving license.
- Now click on save.
- The KYC document’s state will appear in the ‘KYC Pending for Approval’ column.
- After the documents are verified by the employer, the ‘Digitally Approved KYC’ state will be seen.
- An SMS will be received on your registered mobile number.
KYC has to be an update; if there is a necessary KYC update then there is no problem in transferring or withdrawing money. Claim request will be rejected in case KYC is not updated. If you have not submitted KYC documents then the EPF member will not receive any SMS alert.