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How UAN has changed the way you control your EPF account

  • Highlights

  • EPF transfer was cumbersome earlier

  • UAN was introduced in 2014

  • Easy and quick EPF transfer and withdrawal

  • Facilitates transparency and visibility

Until a decade ago, transferring your Employee Provident Fund (EPF) from one employer to another was a cumbersome process. In 2014, this process changed drastically with the introduction of UAN (Universal Account Number) allotted by the Employee Provident Fund Organisation (EPFO). The UAN is a 12-digit number allotted to members to give them control over their EPF account. This was a huge step ahead in digitisation and making EPF services user friendly.

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How UAN was allotted earlier

Prior to the introduction of UAN, employers would first receive the UANs, who would then provide it to you, after furnishing your KYC details. The employers would then update and verify your (KYC) details on the EPFO website. You would then have to register yourself on EPFO website and provide theUAN. So, the downside until now was, you had to depend on the employer to get a UAN. To simplify the process, the EPFO now allows you to generate a UAN without your employer’s intervention.

Now, all you have to do is just provide your UAN to a new employer each time you changed jobs.

How UAN has changed things

The introduction of the UAN has been a game-changer of sorts. For one, it has addressed the issue of “lost old PF accounts” through online registration. Members no longer have to worry about losing track of their old EPF account when they change their jobs.

It has made EPF withdrawal and transfer easy and quick. Now, employees don’t have to fill up multiple forms, file a list of various documents and wait endlessly got confirmation.

Now with the linking of Aadhar to UAN, there is better visibility for existing members and enhanced convenience for new employees joining the workforce. In the future, one can expect better management and accessibility of PF funds thanks to the linking of UAN to the centralised database.

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