You must know that Aadhaar is important for all the EPF and UAN related services. The ‘KYC/Aadhaar upload’ at UAN portal can give you many benefits. such as, you can get your EPF corpus without the signature of employer. Your EPF balance gets automatically transferred because of it. With the KYC update your personal details also gets rectified.
Thus, every EPF member should update KYC/Aadhaar with the UAN database. Particularly, your Aadhaar number would be most useful documents. Rather, I recommend that everyone should submit Aadhaar number to the EPFO.
Also, you can upload/update KYC online. The traditional method of ‘KYC update’ goes through the employer. But now you can complete the process digitally. But before going into the steps of KYC update let me tell you about the KYC process.
Also Read: What is UAN
What is KYC
KYC stands for ‘Know your customer’. It is defined process for proper identification of a person. It is mandatory to every person who goes through any financial transaction. You have to go through this process for banking and investment. In this process, you have to prove your identification and address. Hence you have to produce the copy of identity proof and address proof. For this purpose Aadhaar is most useful KYC document.
Documents Required For KYC at UAN Portal
There are several documents which are used for KYC process. However, the EPFO accepts following documents.
- Bank Account
- driving License
- Voter ID card
- Ration Card
- National Population Register
Normally employee gives bank account number and PAN while joining the job. But Aadhaar is not given at that time. While Aadhaar is the most important document as it makes you free from the employer.
Submit KYC Documents Offline
For the years, we have gone to the employer for each EPF related task. You can adopt similar procedure for KYC update as well. If your employer is cooperative and accessible, this is a hassle-free method. As you daily go to the office, you can easily submit your document to the HR department. Big professional companies readily update KYC/Aadhaar through the EPF employer portal.
The KYC upload through the employer is simple as it does not involve the approval process. Since employer itself submits the document, it is deemed approved. Note, you must bring the signed copy of the document for the update The employer would keep it for records.
Upload KYC Details and Aadhaar Online
You can easily upload the KYC details online. Nowadays you don’t need to upload the scanned image, document number and expiry date is enough. The EPFO don’t keep the copy of your KYC. Rather, it trusts the employer who approves the document.
Nevertheless, EPFO verifies your Aadhaar number and PAN details through the online facilities. It tallies your details with the Aadhaar database. Moreover, Employer also approves the document.
Steps To Link Aadhaar and KYC documents
2- At the UAN portal dashboard menu, you would see a link to ‘Manage’. In the drop-down menu, select ‘KYC’.
3- You would see a form to update KYC documents. You can update or submit any of the document through this form. Now enter the document number and name as per the document. You have to also submit IFSC code in case of bank account number. The passport and driving license requires expiry date as well.
4- After the submission of details, it is not accepted immediately. Rather, your given information is sent to the employer. After the approval by the employer the new KYC document or Aadhaar is added in UAN database. Thus, you may require to give the copy of KYC document to the employer. The employer digitally approves your details.
Importance of Aadhaar and UAN Link
Every employee should update some basic KYC document as soon as possible. The Bank account number, PAN and Aadhaar is the most important documents and you must update these details with UAN database. These are the reasons for my recommendation.
- The EPFO asks KYC document to ascertain the identity of the EPF member. It reduces any litigation or confusion further.
- PAN is mandatory at the time of the EPF withdrawal. As EPF withdrawal before 5 years of service is taxable. You can get the refund of excess tax only if you have given the PAN.
- The correct bank account number is necessary to get the EPF payments. Nowadays EPFO gives money through the electronic mode directly to your bank account.
- Aadhaar KYC proves your authenticity and you can withdraw EPF without the attestation of employer. Thus, you can get your EPF corpus directly from the EPFO. It reduces many hassle.