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UAN benefits and features that you need to know as an employee.
As a salaried individual, it is imperative that you know the structure of your salary. The Employee Provident Fund (EPF) is a critical aspect of your salary structure. Your EPF is a long-term saving plan, which comprises your and your employer’s contribution. Like your savings account number, your EPF account, too, comes with an account number. Let us understand what is UAN number and its benefits in this article.
The UAN number means a 12-digit unique identifier allotted by the Employee’s Provident Fund Organization (EPFO) under the Ministry of Labour and Employment. It helps both employees and employers contribute seamlessly to the Employee Provident Fund (EPF). Introduced in 2014, the UAN was made mandatory to provide a single platform to manage multiple Provident Fund (PF) accounts with ease.
The EPFO issues two separate UANs to you and your employer. Regardless of the number of times you change your job, your UAN remains unchanged throughout your employment years. Similarly, the employer’s UAN number stays constant throughout the business years of the company. If you change jobs, the EPFO issues a new member ID which gets linked to your existing UAN. You must intimate the EPFO or the new employer and raise a request for the new PF number member ID to be linked to your UAN.
When planning your finances, two aspects matter most: how you grow your money today and how you secure it for the future. Choosing the highest interest rate savings account ensures your deposits earn better returns in the short term, while having a Universal Account Number (UAN) safeguards your retirement savings through the Employee Provident Fund (EPF).
A Universal Account Number means a direct link between you and the EPFO. Hence, you can withdraw or transfer funds from your EPF account without depending on your employer for PF transfers.
Upon starting a new job, the employer will ask you to submit your bank details, ID and address proof, date of birth, mobile number, email ID, etc., to generate a UAN. The UAN is usually printed on your salary slip.
You can also visit the UAN portal and click on ‘Know Your UAN Status’. Fill in the relevant details and click on ‘Get Authorization’. You will receive a one-time password on your Registered Mobile Number. After you enter the OTP, you will receive your UAN via SMS.
To generate UAN number, your employer usually initiates the process when you join an organisation covered under the EPF scheme. The employer submits your details, such as Aadhaar, PAN, and bank account information, to the EPFO, which then issues a Universal Account Number. Once allotted, you can visit the EPFO portal to know your UAN number by entering your registered details and verifying with an OTP.
The UAN card contains important details such as your name, UAN, and KYC status. If you are looking for UAN number download, the process is simple through the EPFO’s UAN portal.
Follow these steps:
If you are unsure of your UAN, you can first check how to know UAN number by using your Aadhaar, PAN, or Member ID on the portal. Once retrieved, you can proceed with the download steps.
To activate your UAN, you need a few basic documents. These help the EPFO verify your identity and link your provident fund account. The required documents include:
Once these are verified, you can complete the activation process on the UAN portal.
The UAN makes provident fund management simple. Its main benefits are:
You can use your UAN to withdraw or transfer provident fund money directly through the EPFO portal. The steps are:
The EPFO processes your request after verification. You can track the status through the portal.
As long as you are an employee, the Universal Account Number will not change regardless of the number of times you change jobs and employers. With UAN, you can conveniently manage your PF Account with no interference from our employer and steadily grow your corpus from the mandatory monthly contributions.
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*Disclaimer: This article is for information purposes only. We recommend you get in touch with your income tax advisor or CA for expert advice.
