Employees contributing to the Employees’ Provident Fund (EPF) need a unique identification called the Universal Account Number (UAN). This number centralises multiple PF accounts allocated by different employers and streamlines the management of PF contributions. If you are wondering how to generate UAN number for a new PF account, this guide provides detailed information for first-time users. Additionally, you will learn about essential tasks like UAN password change to keep your account secure.
Alongside, to ensure your long-term financial stability beyond provident fund savings, consider investing in the Bajaj Finance FD schemes, which offer attractive interest rates and flexible tenures suitable for various financial goals. Now, let us move into the step-by-step process of generating your UAN and managing your PF account securely.
What is UAN and Why is it Important
UAN stands for Universal Account Number. It is a 12-digit unique number assigned to every member contributing to the Employees’ Provident Fund Organisation (EPFO). UAN is essential because it links multiple PF accounts held by a single employee across various companies, making it easier to view and manage your provident fund information through a single portal.
Few key benefits of UAN:
– Centralised view of all PF accounts.
– Online management of PF contributions and withdrawals.
– Facilitates easier transfer of PF balance from one employer to another.
– Enables online submission of KYC details.
Having a UAN eliminates the hassle of maintaining multiple provident fund accounts for each employment and simplifies withdrawing or transferring PF funds.
Process of how to generate UAN number for new PF accounts
Employees do not generate UAN numbers directly; it is allocated by the employer when you join a new job and contribute to the EPF scheme. However, here is what you need to do to ensure your UAN is generated and activated:
Step 1: Provide essential details to employer
Submit the necessary documents like PAN card, Aadhaar card, and bank details to your employer. These help in verifying your identity and processing your PF account.
Step 2: Employer applies for UAN generation
The employer registers your details on the EPFO portal and requests a UAN allocation. EPFO validates and assigns a unique UAN linked to your PF account.
Step 3: Receive UAN via SMS or Email
Once generated, the UAN is sent to you via SMS on your registered mobile number or email ID. You can also ask your HR department for the UAN.
Step 4: Activate UAN online
To access your PF account online, visit the EPFO member portal and activate your UAN by entering details such as your UAN, Aadhaar, PAN, or member ID. Upon verification, you will set a password to log in.
How to activate and use your UAN
To fully benefit from your UAN, activation on the EPFO member portal is mandatory.
Steps to activate your UAN:
– Visit the EPFO member portal
– Click on ‘Activate UAN’.
– Enter details like UAN, member ID, Aadhaar, PAN, name, date of birth, and mobile number.
– Enter the OTP received on your mobile.
– Set a strong password.
Your UAN account is now activated and accessible online for services such as:
– Checking passbook details.
– Submitting claim forms.
– Updating KYC documents.
– Request PF withdrawals or transfers.
Secure your long-term savings with Bajaj Finance FD
While provident fund savings provide a reliable retirement benefit, diversifying your instruments is crucial for better financial health. Consider investing in Bajaj Finserv FD to complement your PF savings.
Key advantages of Bajaj Finance FD:
– Attractive interest rates for senior citizens and non-senior citizens.
– Flexible tenures ranging from 12 to 60 months.
– Various payout options – monthly, quarterly, half yearly, annual, or at maturity.
– Safe and backed by robust financial backing.
Conclusion
Understanding how to generate UAN number is the first step towards efficiently managing your provident fund account. With UAN activation and regular UAN password change, you can safeguard your EPF savings and avail seamless withdrawal or transfer services. Moreover, diversifying your savings by investing in Bajaj Finance FD is an excellent strategy to enhance your retirement corpus. With attractive interest rates and flexible tenures, Bajaj Finance offers a dependable fixed deposit option that complements your provident fund benefits perfectly.
Prioritising these measures ensures an organised and secure financial future for all working professionals across India. For more information, visit the official EPFO website and explore Bajaj Finance FD offerings to boost your savings today.