UAN (Universal Account Number) is a 12-digit number given to every employer by the EPFO. Once generated, the UAN does not change throughout your employment duration. There are many advantages of this for all Indian Employees. Here are four major benefits of having a Universal account number (UAN number) for all EPF contributor Employees.
1. Simplifies the EPF process
UAN allows EPFO to keep track of the updated information as to where you currently work. You have to log in into your account from where you can also manage all your EPF accounts under the same UAN.
2. Assists in Hassle-free Withdraw and Transfer of Funds
You don’t have to rely on your employers to transfer or withdraw your EPF funds. You can communicate directly with the EPFO concerning your PF account with the help of UAN.
3. Helps in Knowing your PF Balance
UAN allows you to check your epf contribution balance by either logging into UAN account through the official EPFO portal, or by sending an SMS/ missed call (numbers are given in the official portal) to the EPF account balance from your registered mobile number.
4. Facilitates PF Transfer
You can transfer the PF balance when you switch jobs without applying for a separate PF transfer; as the transfer is triggered automatically after you link all the previous EPF accounts under your UAN.
These are the four major benefits of the Universal account number (UAN number). It saves your time and effort regarding EPF to a considerable extent.