UAN | Meaning and Definition

What is UAN?

The Universal Account Number (UAN) is a unique 12-digit number assigned to employees to the EPF scheme. It acts as a parent, linking multiple Member IDs allotted to an employee over diverese entities. UAN ensures simplified EPF account management and portability.

EPFO (Employees Provident Fund Organization) will provide an Universal Account Number. This allows the user to see all of the Member Identification Numbers associated with their UAN account.

If someone already has a Universal Account Number, he or she must supply it while joining a new business so that the employer may match the new Member Identification Number to the existing Universal Account Number.

After downloading Universal Account Number list, an employer has to follow various steps mentioned below:

Provide UAN to members- Complete Form-11 and provide the necessary information to the new employer.
Either provide the KYC details of every single individual or you can opt for the option of bulk upload in order to provide data of number of employees.

Why is UAN important?

1. Centralized Management: UAN facilitates management of things at a single place, irrespective of job changes or transfers.

2. Easy Transfers: It enables employees to link multiple PF accounts under one Universal Account Number, simplifying the EPF withdrawal and transfer processes.

3. Tracking at-the-go: Employers can easily track employee EPF contributions and ensure compliance with EPF regulations.

Features of Universal Account Number

The major features of UAN are mentioned below:

UAN helps to facilitate the online access to all Provident Fund Account linked to the employee’s UAN number.
It allows flexibility to transfer funds from one PF account to another without any hassle.
It helps to ensure that all the PF accounts are linked and controlled by a single Universal Account Number.
If required, the employees KYC details can be updated on the portal itself.
Ensures that there is a better communication between the employees, employer and the EPFO
Employees can manage their EPF accounts conveniently without relying on previous employers.
UAN minimizes paperwork associated with EPF transfers and withdrawals.
It provides transparency in EPF contributions and withdrawals, reducing discrepancies.

Where is UAN used?

Universal Account Number is primarily used for EPF contributions made by both employers and employees.
It facilitates seamless withdrawal or transfer of EPF accumulations when changing jobs.
UAN enables access to various online services offered by the EPFO, such as checking EPF balance, updating KYC details, and tracking EPF claim status.

How to generate UAN number?

Generating your Universal Account Number is a simple process:

1. Employer Responsibility: Employers have to register the new employees on the EPFO portal and generate their UANs.

2. Activation: Employees receive their UANs from employers and can activate them on the EPFO portal by providing necessary details.

3. Linking EPF Accounts: Once activated, employees can link their existing EPF Member IDs to their UAN for consolidated account management.

Conclusion

We can thus summarize that UAN acts as a unique identifier for PF account holders as it streamlines the whole Provident Fund Management System. Moreover, it also guarantees the employee’s safety as it is not possible for employer’s to hold or reject PF claims. Universal Account Number eliminates the need for number of PF accounts and reduces the overall cost and time needed for settlement of PF.

UAN revolutionizes EPF management by providing a centralized, portable, and user-friendly system for employees and employers alike. By streamlining processes and ensuring transparency, Universal Account Number simplifies EPF operations and enhances the overall experience of managing retirement savings. Understanding and effectively utilizing UAN is crucial for navigating the complexities of EPF contributions and withdrawals in India.

FAQs (Frequently Asked Questions)

How do I find my UAN Number?

1: Go to the the Services section of the website (epfindia.gov.in).

2: Choose For Workers and then Member UAN/Online Service (OCS/OTCP) from the services menu.

3: You will now be led to the (unifiedportal-mem.epfindia.gov.in) portal. Click on Know Your UAN under the Important Links section.

What is a Universal Account Number number?

The Universal Account Number or UAN is a 12-digit unique number assigned to every employee contributing to the EPF.

How can I check my EPF balance?

By using EPFO online portal an employee can check his PF balance.

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