For those who do now know about UAN Registration, it is all about gaining the registration of Universal Account Number. For those who do not know about UAN, it is all about a unique and different identification number given by the employee’s department called EPFO. You need to go over the UAN Member portal to register for the same. Once you register, you ought to get a lot more information like name, address, gender, DoB, and many more. You have too many reasons to go for the same.
Benefits to go for UAN Registration
There are several benefits to opting for UAN registration:
Simplifies the process of transferring EPF balances: If you change jobs, your UAN stays the same, which simplifies the process of transferring your EPF balances from one account to another.
Allows you to access your EPF account information online: With a UAN, you can view your EPF account information online, including your account balance and transaction history.
Allows you to request an advance or withdrawal from your account: With a UAN, you can request an advance or withdrawal from your EPF account online, without the need to visit an EPFO office in person.
Helps you to keep track of your EPF contributions: With a UAN, you can easily track your EPF contributions and ensure that your employer is making the correct contributions on your behalf.
Ensures that you receive your EPF benefits: A UAN helps to ensure that you receive your EPF benefits, such as the employee’s and employer’s contribution, the interest on your contributions, and any other benefits you are entitled to.
Reduces paperwork: UAN registration can help to reduce paperwork and streamline the process of managing your EPF account.
Overall, UAN registration can help to simplify the process of managing your EPF account and ensure that you receive your EPF benefits in a timely and efficient manner.
The Cons of UAN registration:
So, unlike the pros of starting up a UAN registration, you need to know the cons of UAN registration, which will help you in deciding about opening an account on the UAN Member Portal.
Requires access to the internet: In order to access your EPF account information and request advances or withdrawals online, you will need to have access to the internet. This may not be possible for everyone, especially if you live in an area with limited internet access.
May require a learning curve: If you are not familiar with using the internet or online portals, you may need to spend some time learning how to use the UAN member portal in order to access your EPF account information and make requests online.
May require additional documentation: In some cases, you may need to provide additional documentation in order to complete a request for an advance or withdrawal from your EPF account. This can be inconvenient if you need to access your funds quickly or if you don’t have the necessary documents on hand.
May not be available in all locations: UAN registration may not be available in all locations, especially in rural or remote areas using UAN Member Portal.