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All About Universal Account Number (UAN)

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All About Universal Account Number

Universal Account Number or UAN 

Let’s figure it out: 

Universal Account Number (UAN) is a 12 digital number that every employer contributing to EPF has (The Employee Provident Fund Organization (EPFO) allots it). UAN of an employee remains the same even if she/he changes the job. But, if an employee switches job, EPFO allots a new Identification Number (ID) linked to the UAN. You can also put-in the request for this new member identification number by submitting UAN to the new employer.  

Benefits & Features of Universal Account Number 

Here: 

  • Universal Account Number helps to centralize employee data. 
  • It brings-down the burden of employee verification from employers and companies by EPF organization. 
  • Useful for EPFO for tracking multiple job switches of employees. 
  • It helps to extract the bank details & KYC of the member & KYC without any help from employers. 
  • Early & untimely EPF withdrawals have reduced considerably with the introduction of Universal Account Number. 

Advantages of Universal Account Number to Employees 

As given below: 

  • Easier to withdraw (partially or fully) PF online with UAN. 
  • Every new PF account will come under the criterion of a single unified account. 
  • The employees can transfer PF balance from old-new using UAN. 
  • The time when you are required a PF statement; you can download instantly by logging-in using UAN or member ID or sending an SMS. 
  • No need for new-employees to validate their profile if the UAN is KYC and Adhaar verified. 
  • Easier for employees ensuring that his or her employer is regular in depositing their contribution in the PF account.  

Documents required to open UAN 

Following: 

  • Bank account information – Account number, branch name, IFSC code. 
  • ID proof – National identity card like Passport, Voter ID, Aadhaar, Driving LicenseSSLC book; any photo-affixed. 
  • Address proof 
  • Aadhaar Card 
  • PAN Card 
  • ESIC Card 

Things to Keep in Mind whilst using UAN 

Here: 

  • UAN is given to all PF account holders by EPFO 
  • UAN details must be downloaded & given to the employer 
  • Furthermore, UAN is passed on to the concerned employee of the company 
  • EPFO web-portals will help in checking the UAN allotment 

Registering the UAN 

Steps that can be followed: 

  • Visit EPF member portal 
  • Activate Universal Account Number by clicking – Activate UAN 
  • Provide information about your UAN as asked 
  • Click on – Get Authorization PIN (It will be sent on your registered mobile number). 
  • Enter the PIN to verify the request 
  • Create a username & password for the UAN portal. 

 

For further reading about mutual funds, visit our LEARN section. 

 

“Are you looking to invest? How about opening your account with Gulaq & start investing in Direct Mutual Funds? Get in touch.” 

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