EPFO Introduces New Bank Linking Facility for PF Accounts

The Provident Fund (PF) account plays a crucial role in ensuring financial stability for employees. Managed by the Employees’ Provident Fund Organization (EPFO), this scheme encourages savings and provides financial support in emergencies. Each month, 12% of an employee’s salary is deposited into the PF account, with an equal contribution from the employer, making it a joint savings initiative.

The primary goal of the PF scheme is to offer financial security after retirement and during unforeseen circumstances.

Now Link Two Bank Accounts to Your PF Account

Employees can withdraw funds from their PF accounts before retirement under specific conditions. The amount is transferred to the linked bank account. However, issues arise when the linked bank account becomes inactive or closed, preventing the transfer of funds.

To tackle this issue, EPFO has introduced a feature allowing employees to link two bank accounts to their PF account. This new option enhances flexibility and ensures seamless fund withdrawals.

How to Add a Second Bank Account to Your PF Account

If your existing bank account linked to the PF account is inactive or you want to add an additional account, follow these steps:

✅ Step 1: Visit the EPFO member portal: https://unifiedportal-mem.epfindia.gov.in/memberinterface. Log in using your UAN and password.

✅ Step 2: Navigate to the ‘Manage’ tab and select ‘KYC’ from the drop-down menu. Here, you will find the option to add a second bank account.

✅ Step 3: Enter your second bank account details, including the account number, IFSC code, and other necessary information.

✅ Step 4: An OTP (One-Time Password) will be sent to your registered mobile number for verification.

✅ Step 5: Enter the OTP to confirm and complete the linking process.

✅ Step 6: Once verified, your second bank account will be activated, allowing PF funds to be transferred to either account.

Important Points to Keep in Mind

🔹 Your second bank account must be KYC-verified.
🔹 Only active and valid accounts can be linked.
🔹 Ensure you enter the correct bank details to avoid transaction errors.

With this latest update, EPFO aims to simplify fund withdrawals and ensure employees have an alternative banking option, preventing delays in accessing their PF funds. 🚀💰