Why Do Employers Need to Approve Bank Updates for Ex-Employees' PF Withdrawals?

KYC Approval Process for PF Withdrawal

Last date is marked and verified by the employer on the Member's Portal. Bank KYC is also verified by the employer while the member was in employment. After separation, the PF is not withdrawn by the member for 2 years and also not transferred. Now, the member decides to withdraw PF. In the meantime, the member's bank has merged with another bank. The member updates bank details on the portal under 'Manage-KYC'. After updating the KYC details, the KYC is shown as 'KYC Pending for Approval'.

Why is the employer's approval required when the last date is already marked and approved by the employer? This approval process adds a dependency on the employer when the member is no longer in service with the employer.

New Announcement on EPFO Member Portal: Bank Account - UAN Linking

Continuing from the scenario above, please check the new announcement on the EPFO Member Portal regarding Bank Account - UAN linking. Attached are the images (original). Even though the image of the document is genuine, it lacks a date and signature.

List of Invalid Banks

The list of invalid banks includes:
1. Andhra Bank
2. Oriental Bank of Commerce
3. Allahabad Bank
4. Syndicate Bank
5. United Bank of India
6. Corporation Bank

Members with bank accounts linked to these banks must upload and obtain approval. Is there a method to complete KYC in such cases if the last employer is unable to approve it?