Saving money is always a good habit. Savings help in preparing and planning for a sound future. To promote the attitude of saving for a happy retired life, investments in a provident fund is one of the most common avenues. It is an investment fund wherein the employee and employer/government contributes toward an employee’s retirement corpus.
All provident fund investments are made in the account maintained by the EPFO (Employee’s Provident Fund Organization). The EPFO allocates a Universal Account Number (UAN) for such accounts. The Universal Account Number is a unique 12-digit number allotted by the EPFO to all its members. It is an identification number for the members, who are entitled to the provident fund. Irrespective of changing jobs, the UAN remains the same. The services provided by EPFO are all accessible online.