Universal Account Number

Universal Account Number or commonly known as UAN is a unique identification number allotted to salaried employees of our country. UAN lets an employee contribute a portion of their salaried income towards EPF (Employee Provident Fund). It is specially allotted by the EPFO (Employer’s Provident Fund Organization) for easy identification and hassle-free access of the PF (Provident Fund) account for each employee.

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Disclaimer: ##Rs 60,000 are the monthly pension amounts at the assumed rate of return of 8% p.a. and 4% p.a. for unit linked insurance plans. This is an illustrative example and the returns are not guaranteed & dependent on the policy term and premium term availed along with the other variable factors. The market linked return of 60K per month is for an 18 year old investing 6k per month for 20 years in a whole life policy having policy term 82 years in which Systematic partial withdrawals start at the age of 65 years at 5% rate of withdrawal per year. The investment risk in the policy is borne by the policyholder. All Plans listed here are of insurance companies’ funds. *Tax benefits and savings are subject to changes in tax laws. All Plans listed here are of insurance companies’ funds. Disclaimer: #The investment risk in the portfolio is borne by the policyholder. Life insurance is available in this product. The maturity amount of Rs 1 Cr. is for a 30 year old healthy individual investing Rs 10,000/- per month for 30 years, with assumed rates of returns @ 8% p.a. that is not guaranteed and is not the upper or lower limits as the value of your policy depends on a number of factors including future investment performance. In Unit Linked Insurance Plans, the investment risk in the investment portfolio is borne by the policyholder and the returns are not guaranteed. Maturity Value: ₹1,05,02,174 @ CAGR 8%; ₹50,45,591 @ CAGR 4%. *Tax benefits and savings are subject to changes in tax laws. All plans listed here are of insurance companies’ funds.

Let us dig in for more information about Universal Account Numbers like features, benefits, registration process, and more.

Understanding Universal Account Number (UAN)

Issued by the Government of India and regulated by the Ministry of Employment and Labor, (UAN) Universal Account Number is basically a unique 12-digit number assigned to every salaried employee making contributions in EPF (Employee Provident Fund) by the EPFO.

The UAN once allotted, can never be changed for an employee throughout their professional life irrespective of ‘n’ numbers of jobs switched by an employee. Suppose, if you switch 5 jobs in 7 years of your professional career to date, then with every switch made, you will be given a different member identification number, which will eventually be linked to your primarily generated UAN. So, with every switch, your new member ID keeps on linking to your existing UAN keeping it unchanged always.

These days, due to the advancement of technology and the growth of digitalization, access to everything has become much easier and peaceful. Earlier, keeping a track of one’s Provident Fund contribution was a daunting task, but now due to the online portal, it is easy to access, check balance, withdraw, or transfer from the PF account.

Where to Get Your UAN Number?

An employee can get the UAN number from the following 2 sources:

  1. Through Employer

    In general, the UAN number is assigned to the employee by their employer under the guidelines of Employer’s Provident Fund Organization). Sometimes, the UAN is printed on the salary slip of the employee as well.

  2. Through Online UAN Portal

    Generally, the employee receives the UAN number from their employer. But, in case, the employer does not provide the employee with the Universal Account Number, then they can themselves visit the UAN Portal and obtain their respective UAN number.

    To obtain the Universal Account Number, the employee needs to follow the below-mentioned steps:

    • Visit the UAN website https://unifiedportal-mem.epfindia.gov.in/memberinterface/

    • Click on the “Know your UAN” tab

    • Now, fill in your mobile number and the captcha mentioned on the page

    • Click on the “Request OTP” tab

    • You will be redirected to another page wherein you have to fill in your basic details like

      • Name

      • Date of Birth

      • Aadhaar card number or PAN Card or Member ID (whatever submitted to the employer)

      • The captcha mentioned on the page

    • Click on the “Show my UAN” tab

    • Finally, your UAN number will appear on the screen

People Also Read: Best Pension Plan In India

Activation of Your UAN Number

If an employee wants to access their EPF online, then having a UAN is not enough. To activate UAN online, one has to have UAN and PF member ID.

Here are the following steps how one can activate their UAN on the EPFO portal:

  • Visit the EPFO website https://epfindia.gov.in/site_en/

  • Click on the “For employees” tab under the “Services” header on the left

  • Scroll down and click on the “Member UAN/ Online Service (OCS/ OTCP)” tab

  • You will be redirected to the UAN portal https://unifiedportal-mem.epfindia.gov.in/memberinterface/

  • Click on the “Activate UAN” tab in the bottom right

    • Fill in all the required details like

    • UAN

    • Aadhaar card number

    • Name

    • Date of Birth

    • Mobile number

    • Captcha mentioned

  • Click on the “terms & conditions” check box

  • Click on the “Get Authorization Pin” tab

  • An OTP will be sent on the registered mobile number

  • Under the disclaimer box, enter the OTP received on the mobile

  • Click on “Validate OTP” and activate “UAN”

After the UAN activation, a password will be received on the mobile to access the UAN Account

Highlights of UAN

Some of the main highlights of the Universal Account Number are:

  • UAN is created once in a lifetime

  • It helps store all the employee’s data in one place

  • UAN helps the Employee Provident Fund Organization in,

    • Getting bank account details of the employee

    • KYC of the employee without asking the employer

    • Tracking down the number of switches made by the employee

  • UAN has reduced untimely withdrawals of EPF considerably

Benefits of UAN for Employees

  • With the UAN, it is easy to make online withdrawals from the PF account

  • Balance can be transferred or carry-forward easily

  • Tracking down of past withdrawals, deposits, current balance, etc. has become much easier with UAN

  • Creates transparency between the employee and the employer leading to minimum chances of forgery

  • Employees can keep a check whether their PF amount is being regularly deposited by the employer or not

Documents Required for UAN

The following documents are needed at the time of opening your Universal Account Number (UAN):

  • Bank details like,

    • Bank name

    • IFSC Code

    • Account number

    • Branch name

  • Identification proof like,

    • Passport size photographs

    • Aadhaar card

    • Driver’s license

    • Passport, etc

  • Address proof like,

    • Electricity bill

    • Voter ID

    • Ration card, etc

  • Adadhaar Card is mandatory

  • Pan Card is mandatory to link UAN

  • ESIC Card

To End!

Universal Account Number is very useful for everyone, be it an employee, an employer, or the government of India. It helps in tracking down the history of the employee making it easy to understand their past professional life. UAN number is mandatory for every salaried employee and is also a great way of savings for any unforeseen situation in life.

Policybazaar does not endorse, rate or recommend any particular insurer or insurance product offered by any insurer. This list of plans listed here comprise of insurance products offered by all the insurance partners of Policybazaar. The sorting is based on past 10 years’ fund performance (Fund Data Source: Value Research). For a complete list of insurers in India refer to the Insurance Regulatory and Development Authority of India website, www.irdai.gov.in
*All savings are provided by the insurer as per the IRDAI approved insurance plan.
^The tax benefits under Section 80C allow a deduction of up to ₹1.5 lakhs from the taxable income per year and 10(10D) tax benefits are for investments made up to ₹2.5 Lakhs/ year for policies bought after 1 Feb 2021. Tax benefits and savings are subject to changes in tax laws.
+Returns Since Inception of LIC Growth Fund
¶Long-term capital gains (LTCG) tax (12.5%) is exempted on annual premiums up to 2.5 lacs.
~Source - Google Review Rating available on:- http://bit.ly/3J20bXZ
^^The information relating to mutual funds presented in this article is for educational purpose only and is not meant for sale. Investment is subject to market risks and the risk is borne by the investor. Please consult your financial advisor before planning your investments.

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