The Employees Provident Fund Organization (EPFO) has further tightened the security of PF accounts. Now EPFO will not allow its members to rename online and make major changes to profiles. EPFO says that due to online correction in the profile of PF Accounts, there is scope for mismatch in the records and this increases the possibility of fraud. There have been many cases of fraudulent withdrawal in the name of KYC (KYC) over PF account. To deal with this, the Employees Provident Fund Organization has decided to tighten the rules and issued guidelines for the same.
According to the new guidelines, the details of the shareholders in the PF account will not change without a paper document. However, small changes in name are allowed. But now EPFO will inspect the certificates before any major changes. Only then will there be any change in the profile. In this regard, EPFO has issued a circular to the regional offices and member institutions. This circular clearly states that they should not improve the record of any employee without any paper proof.
What are the major and minor changes?
The EPFO has classified small and large changes to follow the guideline. If a name, surname is corrected without changing the first letter, it will be considered a minor change. Similarly, if you want to change the middle name or surname after marriage, then the change will be based on the name given in the Aadhaar card. But a complete change in name will not be allowed. Major changes include changing the full name. Like if someone’s name is KV Kashyap, you can name Karan Veer Kashyap, but the name Rahul Kashyap cannot.
After submitting proof, you will be able to change the name
However, in special circumstances, this can be changed after detailed information by the employer and the submission of proof. Major changes in the name, birth date, nominee, address, father or husband’s name in the PF account will occur only after looking at the paper proof of employers and shareholders. The change of online and offline mode in KYC will be considered valid only when the shareholder documents are uploaded. If an organization is closed, then documents have to be shown along with salary slip, appointment letter and PF slip. The EPFO has instructed the regional offices to preserve the submitted proof and make it available at the time of the audit. Now every part will be checked two to three times only then the change in KYC will be approved.