A decade ago, tracking or maintenance of provident fund was extremely difficult. Employees had to line in queues for hours just to check the EPF balance. The situation would become worse when anyone has to switch to the new job. But life is much easier now, thanks to Universal Account Number!
What Is Universal Account Number?
The Universal Account Number refers to a unique 12 digit number that is issued to each subscriber of employee provident fund scheme. Basically, it provides ease in the regulation of the EPF accounts. But it has tonnes of other benefits, about which we will talk shortly!
Because of UAN, an employee can manage all his/her provident fund accounts. In past, if you switch to the new job, you would need to withdraw the previous provident fund balance to get the new account. The majority of employees across different organisations reported complaints regarding withdrawal and transfer of provident fund. That’s why Ministry of Labor and employment paid attention to this issue and came up with UAN as a solution.
In simple words, UAN is a single account number, allocated to each EPF member that integrates multiple PF accounts. With UAN login, not only you get the provident fund account details, but you can also withdraw or transfer the balance using it!
Key Benefits OF UAN
Employee Provident Fund Organization regulates the provident fund scheme. In past, they were dependent upon employers for employee’s verification. This would slow down the process of registration or withdrawal of provident fund accounts.
The main idea behind the launch of UAN was to centralise the employee data. So, EPFO would not require employer’s confirmation about employee’s identity.
When anyone applies for UAN, his/her bank details, and KYC details become mandatory for registration. This way, UAN is enough to confirm the identity of an employee!
Moreover, UAN helps EPFO in updating the information, when an employee changes the current job. An individual has to submit the UAN details to the new employer to get new PF account. This way, EPFO receives the updated employment information of its members.
The UAN also prevents the employees from making unnecessary withdrawals. As they can simply transfer the previous balance to the new account!
Following are the key benefits of Universal Account Number:
- It assists employees in connecting multiple PF accounts to one unified account.
- With UAN login, employees can withdraw the PF balance without any office hassle.
- Within few clicks, one can transfer the old PF balance to new account using UAN.
- With UAN login to UAN member portal, one can check the EPF balance instantly.
- UAN acts as a unique ID for members, and it independent of employers. It means, if your UAN is KYC or Aadhar card number verified, the employer does not need to authenticate your identity.
- The account holder has the complete control over the PF account, just because of UAN. Now, employers can never exploit or hold back accounts of their employees!
- You just need to make UAN login to check whether a company is making PF contribution or not!
How To Get UAN?
Getting the UAN number is not difficult. Just follow these simple steps to get Universal account number:
- EPFO is the issuing authority that generates UANs of all employees, for which the employer is making EPF contribution. When a new employee gets hired, the employer is obliged to ask EPFO to alot the UAN along with member ID. Using that member ID, an employer makes the contribution to your PF account.
- For allotment of UAN, the employers ask their employees to submit KYC documents along with proof of identity and address.
- Employees have to provide identity proof (PAN card, Passport or Aadhar), Bank account details and address proof (ration card, passport or voter ID).
- Next, it is a duty of an employer to verify the KYC documents of employees. Once, verification is done, the employer can link the member ID to UAN.
- On the other hand, employees will be asked to register on UAN website.
- Employees must select Activate UAN Based registration.
- For registration, you need the mobile number, Member ID and UAN number provided by an employer.
- Once you have filled the form with mandatory information, one-time password PIN will be forwarded to your mobile number.
- Just submit the OTP PIN along with Date of birth, Father/Husband name and further details.
- In the end, you have to provide the new password. That’s it, your registration as an employee is complete. You must be viewing your updated EPF passbook on the screen!
UAN Login in EPF
In past, you had to do hassle of visiting EPFO office just to confirm EPF balance. Those days are gone!
Just make UAN login using username and password on UAN portal, and you can have access to following:
- UAN card
- EPF passbook
- Provident fund linking status
- List of all member IDs
- EPF transfer claim status
- Personal details
In simple words, you can change or update any information related to PF or UAN by logging into EPF official website.
What Can I Do With The UAN Number?
As mentioned above, UAN has everything with a provident fund. The ministry started UAN service just to accommodate employees in managing their PF accounts. You can do following things using your UAN:
- Once UAN is made, it will stay useful throughout your career. In case you get the new job, just provide your UAN to the new employer to transfer or link all PF accounts using it.
- On the EPFO website, with UAN login, you can download the UAN card.
- You can check the status of transfer claim on EPFO website using your UAN.
- Within few clicks, you can instantly check the current status of EPF account. As you can download the EPF passbook from EPFO portal using UAN.
- When you switch to the new job, the transfer of previous PF account won’t be difficult. Thanks to UAN, the older account will be notified to new employer automatically.
- In past, the employees had to make unnecessary EPF withdrawals in case of getting the new job. That issue has been resolved since the launch of UAN. Now employees are encouraged to regulate their PF accounts!
Bottom line is that UAN is the saviour! Accessing or regulating the PF account is easier like never before, just because of universal account number!