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K ARAVIND

 

The Universal Account Number (UAN) is mandatory for all investors in the Employees Provident Fund (EPF). With the introduction of UAN, PF balance transfer, account management and withdrawal have become much easier.

 

Usually an employee has one UAN. When an employee joins a company, he / she has to link the new PF number to the UAN that he / she has already been granted by the previous employer. The UAN will record details of existing PF‌ numbers and PF‌ numbers under previous employers.

 

The UAN is given by the employer to the employee. All you have to do is submit the required documents to the employer to activate it. If there is an existing UAN, a new UAN is not required. It lasts through out your career.

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Some employees can be seen as having two UAE. This is due to the fact that the employee does not give the details of the existing UAN appropriately to the new employer.

 

If you have more than one UAN, you must notify the current employer. The Employees Provident Fund Organization (EPFO) should also send an e-mail showing the two UAN numbers. The first UAN will be cancelled and the second UAN will remain active after the EPFO ​​conducts the required inspection. With the first UAN cancellation PF number will also be de-linked. Therefore the amount in the PF number under the previous employer has to be transferred to the new UAN.

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The EPFO ​​is also taking voluntary steps to merge more than one UAN of an individual. The previous UANs discovered by the EPFO ​​are being cancelled. Previous PF numbers need to be linked to the new UAN. The EPFO ​​will take action to merge the UANs even if the employee has not applied.

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To avoid the confusion caused by multiple UANs, there are a few things to keep in mind when joining a new company. The new company must be notified of existing UAN in the new Form 11 Declaration Form. Provide PF account number and date of resignation from previous job even if you do not have a UAN.

 

UN PF is making transactions much easier. Bank account number, IFSC code and Aadhaar number are required to get the UAN allotted. It is usually the employer who takes the steps to get the UAN.