What is UAN Number?
UAN (Universal Account Number ) is a 12 digit unique identification number🙄. Both you and your employer are assigned, where each of you can add money to your EPF Account. This number will be given by the Ministry of Labour and employment, Which is created and allotted by the Employee’s Provident Fund Organisation(EPFO).
Two separate UAN numbers are allotted to you and your employer by the EPFO. The UAN once generated remains constant everywhere the company’s years in business and all along your employment years. Irrespective of the jobs you change, every time you change a job, the EPFO will provide you new member ID.which new company PF number will link to your actual UAN. You can raise a request for the new PF number either directly with EPFO or do it with your employer so that they can use your UAN to ask the EPFO.
Why do we Need UAN Numbers?😀
As a salaried person in a company that subtracts some money from your salary and provides it to an Employee. Provident Fund, you will be allotted a UAN number🤣. This wasn’t the case earlier when you were allowed to have multiple-member ID for each PF account by different employers. Indian prime minister Narendra Modi was announced to create a single UAN number. Under which all your PF accounts can be easily and conveniently accessed by your UAN from October 1, 2014😊.
UAN simplifies PF transactions since having a single UAN allows you to manage all your PF accounts in one place. Irrespective of how many employers you may have had during your employment journey. So, UAN not only makes obtaining your PF a much also made efficient process. And saves you the stress of having various passwords and account details of multiple PF’s.😊
How Will UAN Change Things?😳
The UAN ( Universal Account Number ) created for you at the beginning of your job helps make all your synchronous PFs over the years and puts the multiple IDs connecting you to your employers all in one place. If you have signified as a salaried employee after the year of 2014, then UAN allows you to port your PF number. Here are the few features and advantages of UAN 😘.
- UAN works towards reducing the process of employee verification put in place by the EPFO and handles all employee’s data in one place.
- For UAN activation, all you need to provide are your identification and bank account details, based on which active confirmation is taken care of.
- The UAN number also tells your employers, both existing and new, about your past account details and PF history.
- You can withdraw or transfer your PF money anytime you want by using the UAN number.
- Both your company and you can manage the details of your PF account and its balance using the UAN member portal from the official website.
- Your company can easily validate your PF withdrawal requests or submit PF into your account using the UAN portal.
- UAN stores all your KYC and PF details into one place, which has simple and convenient to use online.
How do employees benefit from UAN Numbers?😎
The Major benefit is secure access and a more effective method via the UAN portal.
Other benefits of having UAN Number is as follows :
- You can quickly check your PF balance anytime at your own convenience.😜
- Verified by your KYC and linked to your Aadhaar, your UAN is safe.
- Managed by you via your smartphone to check your PF balance by sending a single SMS.😀
- The UAN number is your own identification number, self-supporting of your businesses.
- Only you can have a way to the account based on your KYC details.👌
- You can have a track of your PF account to see whether your company is crediting your account every month on the basis of your deductions from your salary or not.🙄
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