All About Universal Account Number (UAN)
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
- 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
- Bank account information – Account number, branch name, IFSC code.
- ID proof – National identity card like Passport, Voter ID, Aadhaar, Driving License, SSLC book; any photo-affixed.
- Address proof
- Aadhaar Card
- PAN Card
- ESIC Card
Things to Keep in Mind whilst using UAN
- 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.
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