Employees’ Provident Fund (EPF) is a vital part of retirement planning for numerous individuals. As of early 2018, the total Assets under Management (AUM) stands at Rs 11 trillion, approximately 6.7% of total GDP.
It is vital for every single EPF account holder to know what is UAN number first. The Employees’ Provident Fund Organisation (EPFO) rolled out the scheme of Universal Account Number (UAN). It is a unique member ID for every employee registered to the EPFO.
How to know your unique number
- Through your employer – The salary slips provided to you contains your unique number. It is a 12-digit code generated by EPFO which is obtained by your employer.
- Via your PF number/member ID on the UAN portal – If you wish to know how to get UAN number, you can do so easily from the EPFO portal. The portal has 50 million active members, a unique number provided to each. The following steps will guide you to know your number –
- Open the UAN portal on your web browser and click the tab ‘Know your UAN’.
- Enter your PF number/member ID in the space provided, followed by the specifications such as name, date of birth, mobile number, and state. (An employee can check his/her member ID stated on his salary slip.) Information once provided will lead you to the ‘Get Authorization Pin’ tab.
- Enter the pin received on your registered mobile number and click ‘Validate OTP’ to get your UAN number.
- You will receive your unique number on your registered mobile phone.
After you know your code, you need to activate it to check your provident fund balance and history — activation process for your unique number is just a few clicks’ away.
The UAN activation procedure has two prerequisites, your unique number, and the PF number/member ID. The subsequent steps are elementary for the same –
- Enter your member ID/PF number in the EPFO portal under ‘For Employees’ dashboard, present beneath ‘Our Services.’
- Click on the member UAN/online services to enter another portal and provide phone, with your universal number being your ID.
- You will be required to furnish your unique number, mobile number, and member ID. You will receive a pin once you click ‘Get Authorization Pin’ button.
- Tick the ‘I Agree’ Dialog box and enter the OTP.
- Activate your number by clicking on ‘Validate OTP and Activate UAN’.
- Your activation process will be complete once you receive a password on your phone, with your universal number being your ID.
As the provident fund is a part of your post-retirement-goal, it is a comprehensive long-term financial solution. But you will not be able to depend on your EPFO funds for sudden short-term emergency financial requirements.
Immediate requirement of funds becomes obvious and unavoidable in such circumstances. Financial advances such as personal loans provide necessary solutions. Leading financial institutions such as Bajaj Finserv offer these advances with affordable EMIs and flexible repayment tenors.
Bank account information, ID proof, PAN card, Aadhaar card, address proof and Employees’ State Insurance Card (ESIC) are documents required for the successful activation of your unique number. You must be aware of all the legal papers needed and how to get UAN number, rest assured, for the successful implementation of your retirement plan. You need to know how to check, generate & activate your UAN number to properly manage your EPFO and related finances.
To fulfill your goals and requirements, do not put all your eggs in one basket. Remember not to fall prey to fraudulent practices while keeping your credentials private and confidential. EPFO caters to employees’ needs and has been effective in its implementation.