There are a number of ways to facilitate employees by the employers and their respective organizations. Universal account number is the 12-digit number allocated to employees in order to make them powerful and control their EPF accounts. With this number the employees have everything at one point and they can view and check their account details. Once a person becomes member of any organization, the/she is given the number and it remains with them for the whole life. With change of job, they can simply transfer the amounts into the account with reference to the new organization. Here we will look into the UAN registration, activation process and how this helps the employee provident fund members.
How UAN Helps the Members?
There are listed some benefits an EPF member avails with provision of the UAN.
No Need to Transfer Funds
Before UAN it was very tedious to transfer funds from one employee account to the other. With the provision of UAN the employees can easily transfer their funds. When they change their jobs, all they need to do is to give their number to the new employee and the amount will be transferred once the new employee verifies the account.
No Employee Involvements in Withdrawals
It has become really easy for the employees to get their withdrawals. The amount will be transferred to the new account, new refers to the new employee, when he verifies it. Now there is no need of the previous and new employers for withdrawals of your funds and amounts. This way the account holder has the complete control of account and carries out any actions as he deems appropriate.
SMS Alerts for Transactions
When amount is transferred to your bank account or sent to someone else, you receive an SMS alert regarding the transactions. Similar to that, in UAN you will be notified with messages by EPFO when the amount is transferred or the employers send you money. The members and account owners can have details of every activity and transactions so that they can be updated without logging in and checking the accounts.
Activation Process for UAN
Once you have received your UAN the next step is to activate it and it can easily be done using portal, app and messages. Here we are describing the online method using the official UAN website. You will be asked to provide some details and information like name, ID, birthday, email ID and then you can request for a PIN. As you receive the PIN, enter it and verify your account. After that you can carry out any actions like create passwords, change them and submit the request for approval.
Benefits of UAN
With your UAN so many benefits are attached and they all are just to facilitate the members and make their transactions and other processes easier and more convenient. Some advantages are listed below.
Access to EFP Passbook
You have everything at one point and make any actions as needed. With the provision of this number, you are at great ease because when you change the job it is quite easy to get your amounts from the new employees.
Check Account Online
After activation and approval of the account, you will have access to the account. You can check your balance, send and receive amounts and change your credentials as well.
Universal account number has facilitated millions of employees by providing a permanent solution when it comes to transactions and withdrawals. No matter where the employee works and changes job from one organization to another, UAN will remain with him and offers a great help. The employee provident fund employees have now a long-lasting account number with them that they can utilize anytime anywhere.