Universal Account Number: Activation Process And Its Uses

Maintenance Of Documents
In order activate the UAN account one is allotted, at the beginning one needs to upload all KYC documents for verification. Therefore, all your relevant documents gets an e-version and remains saved for future use.

Greater Savings
Due to complication in the process of transferring money every time there was a PF account change, employees preferred drawing the cash. This liquid cash was easily spent and hence, their savings reduced. Thus, the UAN increases ones scope to render more savings airing his employment span.

Greater Retirement Benefit
As mentioned earlier, the continuous withdrawal of cash from PF accounts every time one switches his company lessens his total PF accumulation. This also had an impact on his pension plan as lesser PF implied the pension amount to go down as well.
With UAN such uncertainties do not exist and hence, better pension plan can be expected as one saves his PF without many transactions from it.

Passbook
To check the current balance, status, credits or debits an employee can simply log into his account online. In fact, an online passbook will be maintained for the transactions associated with each account.

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