Changing Provident Fund

The Provident Fund (PF) is a government-managed retirement savings scheme regulated by the Employees’ Provident Fund Organization (EPFO) under the Employees’ Provident Funds and Miscellaneous Provisions Act, 1952. It is mandatory for organizations with more than 20 employees to provide PF benefits.

In certain cases, employees or employers may need to update or change PF details. This could include transferring PF accounts, updating employee details, or changing employer-related information. Ensuring that PF details are accurate is crucial for uninterrupted services and benefits.

Scenarios for Changing Provident Fund Details

1. Updating Employee Details:

   • Correction in name, date of birth, or Aadhaar number.

2. Changing Employer Details:

   • Updates to an employer’s PF registration, address, or contact information.

3. Transferring PF Account:

   • Moving a PF account from one employer to another during a job change.

4. Updating Bank Details:

   • Modifying the linked bank account for PF withdrawals.

5. Merging Multiple UANs:

   • Consolidating multiple Universal Account Numbers (UANs) into one.

Process for Changing Provident Fund Details

1. Updating Employee Details

• Log in to EPFO Portal:
  Employees should log in using their UAN and password on the EPFO member portal.
• Submit Update Request:
  Navigate to the "Manage" section and choose "Modify Basic Details."
• Verify with Aadhaar:
  Submit the correct details verified with the employee's Aadhaar card.
• Approval from Employer:
  The employer must approve the change request.
• EPFO Verification:
  EPFO processes and updates the details after verification.

2. Transferring PF Account

• Log in to the Member Portal:
  Use UAN credentials to access the EPFO member portal.
• Submit Transfer Request:
  Select "Online Services" and choose "Transfer Request."
• Verify Details:
  Confirm previous and current employer details.
• Approval from Employer:
  The current employer approves the transfer request.
• Track Transfer:
  Track the status through the portal or UMANG app.

3. Changing Bank Details

• Update in UAN Portal:
  Employees can update their bank account details by logging into the UAN member portal.
• Approval by Employer:
  Employer approval is required to validate the change.
• Update by EPFO:
  EPFO updates the records after verification.

4. Merging Multiple UANs

• Submit Request:
  Employees must report to their employer and request the merging of multiple UANs.
• EPFO Support:
  EPFO assists in consolidating all UANs into one active UAN.

Documents Required

1. Aadhaar Card (for identity verification).
2. PAN Card (for tax-related purposes).
3. Bank account details with proof (e.g., canceled cheque).
4. UAN credentials.
5. Supporting documents for name or date of birth corrections (e.g., school certificates).
6. Old and new employer details for PF transfer.

Key Points to Note

1. Mandatory Employer Approval:

   • Most updates require the employer’s digital approval.

2. Timeframe:

   • Updates and transfers typically take 7–30 days, depending on the nature of the request.

3. Online and Offline Modes:

   • Most updates can be done online via the EPFO portal, while some may require visiting an EPFO office.

4. Impact on Withdrawals:

   • Ensure updated details before initiating any PF withdrawal to avoid delays.

5. Unified Portal:

   • The EPFO portal and UMANG app offer a user-friendly interface for managing PF-related changes.

Benefits of Updating PF Details

1. Seamless Transactions:

   • Accurate details prevent delays in PF withdrawals or transfers.

2. Enhanced Transparency:

   • Correct information ensures clarity in PF contributions and interest earned.

3. Avoid Duplication:

   • Merging multiple UANs simplifies PF management.

4. Legal Compliance:

   • Updated records comply with EPFO guidelines, avoiding legal complications.

5. Employee Benefits:

   • Accurate records ensure timely credit of employer contributions and benefits like insurance under the EDLI scheme.