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So, what is UAN?
The UAN, or Universal Account Number, is a 12 digit number that will be assigned to all Indian residents and their employers. The UAN number will replace what was formerly the EPF Account Number, which is your Employee Provident Fund Organisation (EPFO) account number.
A Universal Account Number will be assigned to every Indian employee and their employers. It will be required for contributions, withdrawals and transfers of funds related to the employee provident fund.
Importance of UAN
Employees and employers both have several reasons to use the Universal Account Number UAN.
- Employees- UAN number makes it makes it easier to track their finances. Instead of having to rely on your employer to allocate funds to you, you can withdraw and transfer funds freely. It also provides you with a number that can be used at multiple banks so you can access your account from anywhere in the country. Finally, it allows you to keep track of your monthly deposits so you can prepare for the future.
- Employers– have an interest in giving their employees this number as well. Giving each employee a UAN means that they’re no longer dependent on their employer for credit—it allows them to be self-sufficient. It also means that employees who move to a new company can still access their accounts so they don’t have to worry about losing money due to late payments. It also makes it easier for employers themselves to keep track of how much they owe their workers and when they’re supposed to pay them—they’ll know how much was agreed upon at the beginning of employment, and how many months out of 12 they’ve fulfilled that obligation. Finally, using UANs allows employers to automate part of their payroll operations—instead of having to contact the company
What documents do you need to generate your UAN?
These are the documents required to generate your UAN.
- Identity proof- You need your driving license, passport, voter ID, etc.
- Address proof- You will need a recent utility bill, rental or lease agreement, ration card, etc.
- Bank account details- You will need your account number and IFSC Code
- PAN card- This is a ten-digit alphanumeric code issued by the Income Tax Department of India. It is used to track all the financial transactions in India.
- Aadhaar card- This is a twelve digit alphanumeric code issued by the Unique Identification Authority of India (UIDAI). It contains biometric information like fingerprints and iris scans. It is used as an identity document for opening bank accounts and procuring SIM cards.
- ESIC card- This is an eight-digit identification number issued by the Employees Provident Fund Organization (EPFO). It is used for tracking employee benefits under the Employees’ Provident Fund (EPF) Scheme.
How to generate UAN?
First, you need to log in to the EPF Employer Portal using your Establishment ID and password. This can be done by visiting the following link: https://www.epfindia.gov.in/eppf/EmployersMainPortal.jsp
The next step is to click on the ‘Member’ tab and then ‘Register Individual’. You will be asked to provide employee details such as their Aadhaar card, PAN Card, bank details etc. After clicking on ‘Submit’, a new UAN will be generated by EPFO and sent directly to your registered email address. For UAN activation as well you need to visit EPFO member portal and use your UAN number and other credentials like date of birth. See more.
