UAN number is designed by EPFO use a lifetime valid identity number to every one member. It remains same notwithstanding changing companies or jobs. A great deal of online facilities is connected to the activation of UAN in the EPFO official website iepfbalance.in. If you are an EPFO member, but nevertheless ignoring your UAN, do glance at the benefits of UAN. If you do not know your UAN, do obtain it from an employer and activate it online. You can select the option of ‘Activate UAN Based Registration’ in the EPFO member portal. Complete the entire procedure and activate your universal account number.
Employees can login employing their UAN number and password if he or she need. This post could make you aware of significance with the universal account number.
Benefits of UAN
The universal account number has various benefits for employees. Especially it simplifies the PF withdrawal strategy of employees.
1. If you could have UAN you ought not to transfer your PF account from company to a new whenever you affect the job. Transferring PF account can be a tedious procedure and as a result of UAN, employees could possibly get rid of it. The account is now able to transfer by simply submitting your universal account number for a new company. As soon as your new company verifies your details making use of your UAN, the funds can get transferred to the newest account.
2. Now employees are not influenced by their employer for that PF withdrawal. UAN has drastically reduced or almost eliminated the role of employer in withdrawal process. If your UAN is activated and associated with aadhar and banking account, you may withdraw your PF money without your employer’s signature.
3. If you could have activated your UAN, it is possible to receive SMS alerts each month. Check pf balance monthly through SMS. Every time your PF account is debited and credited, you should understand it. You can also download EPF passbook online to check on all your transactions within your PF account. Such facilities can be purchased only if the worker has UAN.
Since now it's easy to transfer PF money in one account to different, employees will prefer transferring to withdrawing. This will ultimately benefit in lasting by enhancing the number of employees pension scheme.
