Universal Account Number (UAN): Benefits, Services & Online Process
UAN or Universal Account Number is a number that is of vital importance to you if you are a salaried employee, who contributes a part of his/her income towards the Employee Provident Fund.
The reason being, UAN is a unique identification number that is linked to your EPF. In this article, we will cover in detail, all that there is to learn about the Universal Account Number.
What Is Universal Account Number?
The Universal Account Number is a 12 digit number that each member of the Employee Provident Fund is allotted against his/her name.
This number remains constant throughout an employees’ professional life. In case the employee changes his job, he is allotted a new member ID under EPF, however, his UAN remains the same. So this number helps you in tracking your total EPF contributions, under your previous employer(s) as well as current employer, all in one place.
Since a part of your salary gets accumulated in the EPF account, it is important for you to know exactly what UAN is and how it is relevant to you.
Benefits of Universal Account Number (UAN)
As explained above the UAN of EPF is very useful for employees to check PF related activities. UAN benefits employers as well since it helps them perform PF updates and other necessary tasks. Here are some other benefits of UAN
- The UAN helps the EPFO in tracking the changes in the organizations for the employees.
- When we employee changes our job, we just need to link the new PF account to the UAN and then the EPFO will update the same in its records.
- UAN facilities can also be accessed online. The UAN e-Sewa portal has many facilities that make PF withdrawal and transfers This makes withdrawals and transfers a few clicks away when we change our jobs.
- UAN also ensures that all PF accounts of the employee are valid and genuine.
Some more Important Points Related to UAN
- The employer or the organization can authenticate employees through their UAN if KYC documents are verified.
- The employer or the organization shall not be able to deduct or hold back employees PF as the UAN is online and hence is visible for any activity done.
- We employees can check the deposit of our PF by the employer every month by just registering on the EPF Member Portal using our 12 digit UAN. Also, the EPF passbook facility can be accessed by sending an SMS EPFOHO UAN ENG to 7738299899 from the registered mobile number with the EPFO.
UAN Employee Advantages:
- With UAN, employer involvement has reduced drastically. The PF of the old organization will be transferred to the new PF account once KYC verification is complete.
- The employee needs to give his UAN details and KYC to the new organization and the old PF is just transferred to the new PF account once the verification is done. Hence, there is no manual process of transferring funds explicitly.
- You can also subscribe to SMS service and get notification whenever a contribution is made by the employer after registering at the UAN portal.
Withdraw/Transfer Funds: Made it Easy
When we employee switches our company, we can either withdraw or transfer our PFs. But since earlier the whole process was so tedious, usually people didn’t utilize their PF. After the launch of UAN, the task has been made easier.
We can link all PF accounts together with our unique UAN. You then just need to share your UAN with the employer. You can then manage our account online after KYC verification.
As UAN eases the linking of all PF accounts, the PF withdrawal process is very easy as well.
Easy Management of EPF through UAN
- The UAN comes very handily throughout an employee’s career. By just sharing our UAN and PF account details to various employers of ours, we are good to go. All our old accounts are linked to single UAN.
- We can also download our UAN card by registering at the EPFO UAN e-Sewa member portal.
- KYC verification can also be done online by just uploading the scanned KYC documents by Employee on the portal.
- The UAN also helps in monitoring and checking the process status for the claim transfer on the EPFO portal.
- Using UAN, we can check our PF balance by just downloading or accessing the passbook from EPFO’s website.