The interest received on the amount deposited in the EPFO ​​account is more than any bank in the country. You can withdraw the money deposited in the EPFO ​​account anytime when needed. However, to take advantage of all such facilities of EPFO, you have to always keep some important details updated in your account. IFSC code of your bank account is also one of those important details, which is very important to keep updated in PF account.

IFSC code changes when the bank account is transferred to another branch

If you have recently transferred your bank account from one branch to another or are going to get it done in the coming days, then this information is very important for you. Actually, whenever we transfer our bank account from one branch to another, the IFSC code of our bank branch also changes. In such a situation, it becomes very important to update the IFSC code in the EPF account as well.

If you do not update the IFSC code in your EPF account, then you may face a lot of problems in withdrawing the amount deposited in your PF account. Hence it is very important to keep the IFSC code updated in the PF account. Here we are going to tell you a very easy way to update IFSC code in EPF account. By following which you can also easily update the IFSC code in your PF account.

Easiest way to update IFSC code in EPFO ​​account

• First of all you have to go to the official website of EPFO ​​https://www.epfindia.gov.in/site_en/index.php .
• On the top of the homepage of the website, you will see a tab named Services, on which you have to click.
• After clicking on Services, you have to click on the For Employees option visible in it.
• After clicking on For Employees a new page will open. On this page, you have to come down and click on Member UAN/Online Service (OCS/OTCP) in Services section.
• Now you have to login by entering your 12 digit UAN number, password and captcha code. After login to the account, you have to click on Manage tab and click on KYC.
• Now a new page will open in front of you, where you will see the options of Bank, PAN, Passport. Where you have to click on Bank.
• Here you have to enter your account number and new IFSC code. After this, the details of the new branch of your bank will appear on the screen. After which you have to click on Save.
• After clicking on Save your details will be verified. This may take a few days. After the verification is complete, the IFSC code of the new branch of your bank will be updated in your EPFO ​​account.

The post EPFO Account Update: Big News ! IFSC code changed after bank account transfer? Update in EPFO ​​account like this, know the complete process first appeared on Rightsofemployees.com.

The market of discussions has become hot again as soon as the four new labor codes are approved by the central government. It is being told that if the New Wage Code is implemented, then the people working in the private sector will get silver. Because they will also be able to withdraw crores of rupees from the PF account during retirement like a government employee. Because after the implementation of this law, the employees are going to get a big relief. Although no announcement has been made by the central government in this regard so far, but the government has given its indications. Due to which crores of employees of the country are going to get direct benefits.

Will get benefit like this

In the new wage code, it has been said that the basic salary of the employee will not be less than 50 percent of his CTC. This will also affect the amount of EPF (Employees Provident Fund) of the employee. The employee and the company will contribute 12-12 percent of the basic salary every month in the PF. That is, under the new rules, more money will be deposited in the employee’s account. Which will reach into crores by retirement. Therefore, employees working in the private sector during retirement will also be able to withdraw a lot of money from the PF account. However, for the New Wage Code, it is necessary to get the consent of some states. Because so far only 24 states have given consent for the New Wage Code.

What does the EPFO ​​rule say , according to the EPFO ​​rules, if you withdraw the entire amount of PF, then it is not taxed. Therefore, after the implementation of the new wage code, when the basic salary is above 50% and the PF contribution is deducted on it, then the PF fund will also be more. That is, when the employee retires, he will have more PF balance than before. Let us tell you that after the implementation of the New Wage Code, about 66 percent more will be deposited in the PF account of the employee. Whose interest will also get more. It is being told that more people are waiting for the new wage code, especially those with private jobs. Because they are going to get many other benefits including weekly off.

The post EPFO account Update: Now PF account will also become rich, government will make important changes in the rules first appeared on Rightsofemployees.com.