What is universal account number (UAN) and what are it is used for?
UAN is compulsory for every provident fund account holder?
Universal Account Number (UAN) is an unique number given to EPF account holders. UAN enables account holder to consolidate their different PF accounts with different employers. An employee can port different PF accounts with all employees and link to his UAN for consolidated reporting and each employer is not required to open a different account.
Basically UAN has made life easy of employees and employers. It has brought required transparency in system. Now employees need not to sign different forms and withdraw balance every time they change their job.
Employees can link all their PF accounts with UAN and check PF balance of each employer contribution in a single window.
UAN is not compulsory but if you want to make your life simple and do not want to run here and there after each job change, getting an UAN is best option.
With UAN you can check your balance and whenever you change your job, you can easily link your new PF details with new employer.
JOIN LARGEST DISCUSSION PLATFORM
Sign up to discuss taxation, accounting and finance topics with experts from all over India.
Join Discussion
