EPFO – PF money won’t be transferred to bank account! Do this work soon

EPFO Update: EPFO ​​continuously implements new technologies for PF employees. Once again, the EPFO ​​has taken a major step to further strengthen the process of transferring PF funds to their accounts. The new rule is very specific and important to know.

Without facial authentication technology, EPFO ​​members will not be able to deposit PF funds into their accounts. FTA is also required for receiving the ₹7,500 incentive installments every six months under the PM Vikas Bharat Rojgar Yojana.  

This process has been initiated to prevent incidents like cyber fraud. PF account holders will be required to complete e-KYC for DBT both manually and online. EPFO ​​is taking steps to strengthen technology for PF employees.

EPFO officials provided information

Officials at the EPFO ​​regional office in Kanpur informed that the incentive amount of ₹7,500 under the PM Vikas Rojgar Yojana will be transferred directly to employees’ bank accounts. Authentication is necessary to prevent cyber fraud and ensure transparency in the process.

For this, all PF employees must complete e-KYC on their accounts. This requires linking their Aadhaar card to their bank account, which is also required. Employees can also access this facility directly by visiting their bank and downloading the e-KYC form from the NPCI website www.npci.org.in and the mobile app Umang.

Key Points to Know

The PMVBY Rojgar Yojana is crucial. To enable the direct benefit, beneficiaries will need to complete the process by going to the Customer BASE and Aadhaar Seeding and De-Seeding options on the NPCI website. All PF account holders with a UAN number are eligible.

Additionally, they can also go to the UAN service on the Umang app and select the FAT of already activated UAN option. Then, under the face authentication option, they must complete the face scan process. If the Aadhaar Face RD app is not installed, they can install it.

Face Verification Required

Facial verification will now be required for all PF members to avail DBT benefits. This will also strengthen authentication to prevent misuse of the facilities provided by the EPFO ​​to facilitate withdrawals. EPF members whose UANs were not generated using facial authentication technology will need to verify their UANs through the Umang app.