Initially, when any of the individuals start a new job with any of the organizations, they get a new provident account number. But it is not enough for an employee to manage its PF contributions. The whole procedure is very complicated for an employee to evaluate all of their employee provident funds properly. To overcome this issue, UAN is being introduced by the employee provident fund organization.
What is UAN?
UAN is a 12-digit identification number, which both you and your employer are assigned. Your UAN remains the same and portable throughout your life, whether or not you change jobs or how many. However, with every job switch, a new member identification number (ID) is provided by the EPFO which is linked to your UAN. When switching jobs, you can request a new ID by providing your UAN to the new employer. This ID will as usual be linked to your UAN which will further ease all EPF processes like withdrawals and transfers.
How to check your UAN?
- Go to the EPFO Member Services Portal.
- On the bottom-right, click Know Your UAN Status.
- Now you have one of three choices to find your UAN. You can find UAN by PF member ID, Aadhaar, or PAN. Select any of these three.
- Now enter all the details requested on this page, which includes your name, date of birth, registered mobile number, registered email address, and captcha.
- Click Get Authorization Pin.
- On the next page, click the box next to I Agree.
- Now check your phone for an SMS from EPFO, which contains an OTP.
- Enter the OTP on the EPFO website.
- Click Validate OTP and get UAN.
- Check your phone for an SMS from EPFO containing your UAN.
How Can you Benefit from Knowing UAN?
You can enjoy numerous benefits of having a Universal Account Number:
- You can withdraw or transfer your PF money anytime using UAN
- Both your employer and you can manage a record of PF account and its balance using the hassle-free online UAN member portal
- Your employer can quickly validate your PF withdrawal request or submit PF into your account using the UAN portal
- UAN brings all your KYC and PF details into one place, which has easy accessibility online.
Wealthcafe advice:
UAN numbers are an excellent way to keep your PF funds handy and will help you save money secured all through your career until you feel the need to partially or fully withdraw it. Also, adopting this digital route allows you to maintain and supervise your money comfortably using the UAN portal and app.
