UAN means Universal Account Number. UAN members have huge benefits in UAN member portal. Transfer amount old pf account to new Pf account. Avoid unnecessarily withdrawal, attached multiple pf accounts in single UAN.
What is Universal Account Number(UAN)?
UAN stands for the universal account number. It issued by the Employment Provident fund Organization (EPFO). The government recognized companies detect money in employees’ salaries. The amount added to provident fund of form. Every company issued Pf number along with salary slip. When you change company pf number also allotted. One employee has multiple Pf accounts so problems occurred. So, these problems reduced to introduce in 2013 Universal account number. You join in any company or change many companies have only one number that is UAN number or Unique number.
UAN member connects with multiple PF numbers. UAN member has 12 digits of unique numbers of employees. It is allotted by EPFO. Each and every company have the employer supported to EPFO. This employer makes our company, employees applies or manage Pf account. You find detecting the amount in pay slip.
Why do using UAN?
Huge people work in India. EPFO issued lot PF numbers some time provide multiple PF numbers in one employee. In this situation occur problems regarding introduced UAN.
UAN introduced the main purpose is linking of multiple EPF accounts of the member. And also identification of member it means KYC. This is member friendly portal totally online. Your KYC update online only. How many years worked this number does not change even close own. UAN is Aadhar enable the process.
UAN Benefits and features
Universal account number (UAN) main theme is centralized member accounts and decreases the burden of EPFO. UAN works totally online without papers. UAN member control Pf accounts, its own. It is used to transfer old pf account to new pf account and withdraw anytime. It is also used by employer verification purpose. Employer verified employee working places. How many years working employee, all details available in UAN. It is attached the employee multiple pf accounts in the unique number. UAN stop unnecessary withdrawals. It means switching jobs. Just use UAN portal switching time transfer pf account old to new.
Main benefits of UAN member
- The Employee can attach multiple pf accounts in single UAN
- Transfer pf amount old to new pf account.
- The Employee can Update and verify KYC
- UAN is employee friendly, change her profile and update it.
- An employee can track contribution amount.
- The employee can check their Epf balance quickly with the use of SMS. Sending UAN number and receive Epf balance details.
- No need to involve the employer
- Get SMS alerts
- No need to transfer funds
- Available Pension Schemes
- Switching Pf accounts
- Any employee who has a salary up to 15000 can join the fund
- Some schemes provided by Epfo. There are payable on retirement, resignation, death.
- Partial withdrawals available in insurance policies. Buying house, marriage purpose, education and treatment of illness etc..
- Employees pension scheme available to fund
- Insurance amount Rs.6 Lac.