Universal Account Number or UAN is a unique identification issued by EPFO to every EPF member. UAN remains same though out your life. IT does not change with your PF account number. You may have many PF account number but you will have only 1 UAN. It is like if you have many bank accounts in 1 bank than you will have multiple bank accounts but your customer ID will remain same.
EPFO has allotted UAN to all the EPF beneficiaries. Now when you join any job you get your UAN along with EPF number, even an unemployed even can get UAN. With introduction of UAN accessing all your PF accounts under one account number is like accessing all your bank accounts at one place. UAN accessing is online, so it’s a great step from EPFO to solve problems of EPF members like EPF transfer, withdrawal etc. which a real problem was for EPF members previously.
Benefits of UAN Number
- Automatic EPF Transfer
Introduction of UAN has made PF transfer process easy and transparent. Transfer of EPF balance was one of the biggest problems among all PF members. Whenever the EPF member changes job he is issued a new PF account number. EPF cannot be withdrawn while you are in job. So the employee has no option to get his funds transferred to new EPF account from the old one. For this process was a difficult one. Now when you link all your EPF accounts to UAN all the funds are accumulated at one place and PF transfer takes place automatically.
- Link all EPF Accounts
UAN is like your customer ID with many accounts in bank. You can link all your previous and current EPF accounts to UAN. You don’t even need any employer verification or approval for linking your PF accounts. Only the details in your all PF accounts should match. Like in your online bank account you can see balance in all EPF accounts individually online.
- Online EPF withdrawal
One can apply for EPF withdrawal if his/her UAN is KYC verified. Link your KYC documents (Aadhaar Number, PAN Number and bank details) as soon as possible, so that you can apply for withdrawal of PF money online. It was one of the most awaited services from EPFO.
- Check EPF Balance Online
One can check EPF balance online once he/she gets registered at UAN portal and get UAN activated. You can check PF balance online as well as through SMS.
- Download EPF Passbook online
One can easily view and download EPF account transaction online at UAN portal after successful activation of UAN. You can even download and print EPF e-passbook.
- Employer intervention is reduced
Once your UAN is verified by employer and KYC is linked you are no more under any pressure of employer to handle your EPF account. You don’t need any authentication from employee and now and he cannot hold your PF funds if you leave the job.
- SMS Updates
You get monthly SMS from EPFO about monthly contribution if PF account. This way you came to know that the employer is contributing funds in your EPF account every month and on time.