After slogging oneself for 60 long years, a person eagerly awaits his/her Retirement. The life after work, which every individual looks forward to, while some relax and de-stress whereas others invest time in their hobbies and interests!
But it isn’t all that easy as it seems. A retirement also requires adequate planning and arrangement while one is still working.
The infamous Employee’s Provident Fund (EPF) constitutes a small amount deducted from an individual’s salary, every month for the entire duration that the individual is working. Established by the Central Government, it is a scheme which withdraws a nominal amount of 12% from a person’s salary free of tax deductions, for future investments either for Retirement or any kind of situation involving an economical crunch.
What is UAN?
A 12 digit unique Universal Account Number (UAN) has been launched by the government for a person to know exactly how much amount has been credited to his/her EPF account, or any other details, online.
Once the reason is validated in the case of an emergency or a tragic mishap, the officials release the EPF amount after waiting for a period of 2 months.
Benefits of UAN:
- Letting go of people’s foremost worry, on changing one’s job, a person can gather all PF account under a single one.
- UAN doesn’t let its users bother about all previous PF accounts, and also aids one in transferring one PF account into another.
- Although mandatory for a person to possess a UAN before withdrawing from the EPF, nonetheless the user can withdraw money from their PF account without the Employer’s due permission provided there is an Adhaar Card is linked to the account.
- Knowing the current balance, or downloading the passbook, or even having knowledge of monthly contributions made to the EPF account, all of these can be done under the umbrella of UAN that too online.
A convenient process, one can simply recover their UAN number through the UAN portal.
- Browsing through the EPFO website one should look for the web page which redirects to the UAN Helpdesk.
- By giving necessary details such as – Mobile Number and Password you are registered as a member. Your Name, Mobile Number, Date of Birth and PF number as recorded in EPFO and in your Salary slip are sufficient to for going in for a UAN number search.
- You’ll have to visit the e-Sewa portal and click on Know your Status link, highlighted on the left -hand corner of the page.
- Entering your PF account details and after their verification, you will be redirected to a page.
- This page will give you your recovered 12 digits UAN number!
On receiving a pension, a family is elated! This pension is stored for a person, in his/her EPF account which can be accessed through the UAN. There are however cases wherein a person may lose or forget his/her UAN. It can always be recovered by simple and convenient measures provided by the Government Of India.