EPFO stopped big news for 7 crore PF account holders

News India Live, Digital Desk: KYC: There is a very important news for more than 7 crore Provident Fund (PF) account holders of the country. Employees Provident Fund Organization (EPFO) took a big step to prevent online fraud, to one of its important online facilities has stopped.

Is the facility closed?

Now any PF subscriber (employee) by himself By visiting the online portal, you will not be able to replace or update your bank account information (eg account number or IFSC code). Earlier this facility was available, so that people used to update their bank details easily from home.

Why was this decision taken?

This decision has been taken to protect you and our hard earned money. In recent times, online fraud cases had increased a lot.

• Cyber ​​thugs used to get login information (UAN and Password) of the employees in some way.

• After this, he secretly changed the employee’s bank account number to enter his or someone else’s account number.

• When the employee applied to withdraw his PF money, the money would not go to his account and go to the account of the fraudsters.

To prevent similar fraud, EPFO ​​has currently discontinued the facility of changing online bank details.

So how to change the bank account now? (New way)

If you want to change the bank details in your PF account, now you will get this process Through your employer Have to complete.

1. You have to give your new bank account information (eg cancellation check or copy of passbook) to your company’s HR or account department.

2. Next, your employer (your company) will verify these documents.

3. After verification, your employer will update the details of your bank account from your official portal to EPFO’s record.

In short, now the process of replacing the bank account has gone directly to the employer from the employee. This step may seem a bit inconvenient, but its main objective is to protect the hard work money deposited in your PF account from cyber thugs.

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