BIG update for PF users! Self-certify KYC without HR approval starting June 2025

Important announcement for PF users. From June 2025, completing the KYC process for your Provident Fund (PF) account will become significantly easier. The Employees' Provident Fund Organisation (EPFO) is introducing a new self-certification rule, removing the need for HR approval for KYC updates.

What's changing?

Currently, employees have to rely on their company's HR to verify and approve KYC updates for their PF accounts. However, under the new rule, employees can self-certify their KYC documents, avoiding unnecessary delays caused by waiting for company approvals.

This is particularly beneficial for employees of companies that have stopped or delayed KYC verification. The self-certification rule will be part of the EPFO 3.0 initiative, set to launch in June 2025.

What is KYC for PF accounts?

KYC is a one-time process required to verify employee details when linking their Universal Account Number (UAN) to their PF accounts. It ensures smooth operations for PF-related tasks such as withdrawals, transfers, and pension claims.

Highlights of the EPFO 3.0 initiative

The EPFO 3.0 project aims to enhance digital infrastructure and streamline processes for employees. Key features include:

Self-certification for KYC: Employees can now manage their PF account updates independently.

Bank integration: Subscribers will soon be able to withdraw funds directly from their bank accounts, up to a certain limit, completing the process without lengthy documentation.

Employment-linked schemes: New initiatives will be introduced to link PF benefits with employment growth.

Enhanced subscriber management: With the current EPFO subscriber base at 80 million, it is expected to increase to nearly 100 million after the launch of this scheme.

Easy access to PF money

As part of this modernization, Labor Minister Mansukh Mandaviya announced that EPFO subscribers will have easier access to their funds. Through streamlined processes, employees can withdraw their money without extensive documentation, ensuring quick access to their hard-earned savings.

The self-certification feature under EPFO 3.0 marks a significant change for employee convenience. By eliminating the reliance on HR for KYC updates, this initiative aims to reduce delays and empower employees to manage their PF accounts more efficiently. Various benefits can be availed through EPFO 3.0, launching in June 2025.