Retirement is something most of us look forward to while earning money, slogging ourselves for hours. Eventually after years and years of hard-work and aging 60 one is introduced to life after work. Finally even workaholics invest time in their hobbies and some De-stress. However planning a retirement is a unique process and should be done with patience and planning while an individual is still working.
Employee’s Provident Fund (EPF):
12% of a person’s basic salary is deducted regularly for deposition towards the Employee’s Provident Fund. A tax-free scheme launched by the government of India which empowers a person to save a sound amount for Retirement or any kind of emergency situation. A compound interest is appended to the combined funds each year as decided by the government in the annual financial budget.
What is UAN and UAN number?
An initiative by the Indian government, a unique 12 digit number is provided to each working individual person to know exactly how much amount has been credited to his/her account, or any other details, referred to as Universal Account Number (UAN). A valid and active Provident Fund account holder can go through all necessary details online itself.
Touching the EPF is not advisable until unless an individual is retiring, getting self -employed or in a worst case scenario – undergoing a terrible mishap. However, after waiting for a period of 2 months the government does release the EPF amount only after the reason is validated.
With such many alluring benefits like, in job transfers keeping the same PF account, linking previous accounts to the current one, withdrawal of money without the employer’s signature, and accessing all these things on an online portal. What if a person faces problems such as – Changed mobile number, forgetting the password, incorrect personal details registered for UAN, problem in the passbook, etc. Here is how one can update there UAN account number.
Update UAN account number:
A very convenient process, one can very suitably get their UAN account updated by accessing through the UAN portal.
- Begin with going to the EPFO website and clicking the web page which redirects you to the UAN Helpdesk.
- You can register as a member by merely entering your Mobile Number and Password. If you have forgotten your Password, they will redirect to the process to get a new password.
- Launched by the government of India, visit e-Sewa portal and click on Know your Status link, highlighted on the left -hand corner of the page.
- After filing in of your PF account details and verifying them you will be redirected to a page.
- This page will give you your updated UAN account!
In conclusion, whenever a person receives his/her pension amount it is overjoyed as a bonus! It always a welcomed income, provided, it is carefully deposited and duly checked in the very first place by using the UAN number and accessing the EPFO site. Also as a responsible citizen of the country, one should be responsible and deposit regularly into the EPF, ensuring ache din!