UAN | investing money | mortgage principal | constructing a home | UAN login | UAN account | activate your UAN | EPFO site | PF account | faqs
You may finance your new home with EPF if you log in to your EPFO account and use your UAN login guide.
The Ministry of Labor and Employment is in charge of directing the activities of this government organisation, which is known as the Employee Provident Fund Organization. The Employees’ Provident Fund Organization is in charge of India’s Provident Fund (PF), often known as the Provident Fund (EPFO). You have access to all of the information included in the Employee Provident Fund so long as you have a Universal Account Number, often known as a UAN (EPF).
In addition, money from a PF account may be used to purchase a new home or reduce an existing mortgage. The money from the PF may be used to purchase land and construct a home, but only under certain conditions. These conditions must be met first.
Access to the EPFO Login may be gained through the use of the UAN (EPFO UAN Login). Access to the online UAN Passbook is also possible via the UAN Login. By checking in as a member of the EPFO using the employee’s UAN, it is possible to receive the employee’s UAN passbook.
Recent changes made by the Union government have resulted in decreased interest rates for Employee Provident Fund Accounts (PF accounts). For the fiscal year 2021-22, the interest rate paid on the EPFO account will be reduced to 8.1%. The reduction in interest rates would impact more than five million people in India who own provident fund accounts.
Let’s take a more in-depth look at the information provided by EPFO Login and UAN.
Where Can I Find the UAN?
Employees who participate in the Employee Provident Fund plan are each assigned a Universal Account Number, often known as a UAN. Through the use of the UAN, it is possible to get access to the EPFO passbook, the PF contribution data, and the EPF account balance.
When an employee changes employment, they can take their UAN with them. The employer will be unable to contribute to the PF account on the employee’s behalf before their UAN and AADHAR numbers are connected.
Investing Money From The EPF In The Purchase Of A New Home
Employees and their employers each contribute up to 12 percent of an employee’s basic salary to the Employee Provident Fund, which is used for retirement savings. Even while the money from the EPF is supposed to provide a certain level of assistance during retirement, there is a way to withdraw this money so that it may be used for the purchase of a property or the construction of a house.
This money may be used for various purposes, including the repayment of mortgages. You are not permitted to withdraw the whole amount available in your PF account to pay for housing, though.
The facility is accompanied by a list of guidelines and protocols to follow. These are the events that took place:
- Only with a PF withdrawal equal to 36 months of the basic salary of the employee concerned, in addition to any relevant Dearness Allowance (DA), can a ready-to-move-in home be acquired. Even then, only if the value of the DA is lower than the basic pay.
- The maximum amount that may be withdrawn from PF to purchase a plot of land is equal to either 24 months of the employee’s basic income + DA, whichever is smaller, or the price of the property, whichever is lower.
- If the land costs Rs. 3 lakh, the total PF and DA accrued over 36 months is Rs. 3 lakh only. Thus, two million rupees may be taken out of this account.
Mortgage principal paid using personal savings (PF)
A person who is paid and has a PF account can use the money in the PF account to pay down their mortgage. To qualify for this benefit, the applicant must have worked for the company for a minimum of 10 years in a paid position and made contributions to the pension fund.
The Employee Retirement Income Security Act (ERISA) limits the amount of money that may be withdrawn from an employee’s retirement account. These limits cannot exceed 36 months of the employee’s basic pay plus the employee’s Dearness Allowance (DA).
For this money to be received, a registered banking institution, a non-banking financing firm, or some licenced lenders must first exist. If the borrower obtains the loan privately from an organisation not registered with the government, the borrower will not have access to this facility.
Constructing a Home with the Money from the PF
The money from the EPF may be used not only to purchase a piece of land or an existing house but also to construct a home from the ground up. To use this service, you will need to belong to either a registered housing society or a society with at least ten members.
Under these conditions, the withdrawal from the PF account is less than ninety percent of the total cash in the PF account, as well as the expenditures associated with developing the property. Within the first six months, the money from the PF must be used for construction on the house to get underway. The building must be completed within one year of the last payment being taken out of the account.
You must be aware that during your whole life, you will only be permitted to withdraw money from your PF account to pay for housing-related expenditures once. It is permissible to use the PF withdrawal tool to pay for housing-related spending; however, the funds set aside for retirement benefits should not be taken out of the account.
It is required that the UAN number be known for each paid employee who contributes to the PF. This one-of-a-kind number is helpful in various situations, such as when switching employment or withdrawing money from a PF account.
Using The UAN Login, Have Access To UAN Number.
Before they had access to the UAN facility, EPFO employees had to do their duties manually. On the other hand, the computerised system has made it possible to log in to the UAN without any problems by establishing a unique number, UAN (UAN Login).
You should inquire about getting the UAN number from the firm you now work for. These details are often included on pay stubs sent every month. If you cannot discover your UAN number for whatever reason, you may be able to look it up on the UAN website.
If you want to discover what your UAN number is, you need to follow these steps:
- Enter your UAN number at https://unifiedportal-mem.epfindia.gov.in/memberinterface/. You may know your UAN Login Number on EPFO Home’s UAN Login Section, and you may access the website for the Employee Provident Fund Organization (EPFO Home).
- Clicking the link that says “Know your UAN” on the right side of the page.
- UAN-Option-on-EPFO-Home On the EPFO homepage, you should be able to locate the option to log in using your UAN.
- Click on the link that says “Know Your UAN” if you want additional information about your one-of-a-kind identifying number.
- Your UAN Login Window on the EPFO Home Page
- After inputting the phone numbers, you will be prompted to click the “Request OTP” button.
- An OTP will be sent to your registered mobile phone number. Your registered mobile phone number will receive an OTP. UAN Login Know Your Login
- After entering your OTP and pressing the “Submit” button, you will be prompted to click the “Validate OTP” button.
- When the system has confirmed that the OTP is valid, you will be taken to the following screen.
- The login window for your UAN. UAN-Details
- Find out how to use the login information for your UAN.
- Enter your full name, birth date, Aadhar or Pan Card number, Member ID, and the captcha code.
- When you are completed, click the “Submit” button.
- Choose the “Show My UAN” button from the available options. On the monitor, you will see something that displays the UAN.
- Your UAN login credentials are required to access the UAN Member site and the UAN Passbook. The EPFO Home site is accessible via a UAN (EPFO UAN login).
- To get access to the EPFO’s web portal, you will need to enter your UAN (EPFO Login). To sign in using your UAN, perform the steps explained in the following section (UAN Login).
Access your UAN account by logging in on the UAN website
Simply following the steps in this guide will allow you to connect to your UAN account successfully.
- The official website of the Employee Provident Fund Organization may be reached at this link. A website that may be found at (EPFO.org)
- Sign in using your UAN on the EPFO’s Login Page.
- The EPFO login page may be found here.
- On the right-hand side of the page, locate the UAN login and input your UAN number and password.
- After successfully logging in using the user’s UAN and password, you will be brought to the dashboard for that user.
- Username and Password for EPFO’s UAN Members of EPFO may log in to their UAN using their username and password.
- On the dashboard, you will see not only your UAN but also your name, date of birth, gender, Aadhar number, pan number, bank account number, registered cell phone number, and email ID.
- On the UAN dashboard, in addition to being able to see your passbook, manage your account, change your password, and download a PDF, you can now change your password.
- You have access to the following options in addition to your Profile, Service History, UAN Card, and Passbook by pressing the View button on the front of the card.
- You can either apply for a UAN card or look it up in your passbook to see your current balance.
- The EPFO Home website has a section in which you can check information on your job history.
- Access your UAN by signing in on the EPFO Website.
- Access Your EPFO UAN Account Here
- When you click on the “manage” button, a drop-down menu will appear, from which you may choose options such as “Basic Details,” “Contact Details,” “Know Your Customers,” “E-nomination,” and “Know Your Nominee.”
Sign In To Your UAN Account And Activate Your UAN Number
To take advantage of the services provided by the EPFO Home site, you will first need to activate your UAN number (EPFO Login).
Please perform these actions in the correct sequence to activate the UAN number.
- Navigate to the website of the EPFO (EPFO Home).
- Login to EPFO’s UAN page
- The menu on the right-hand side of the screen has the option to activate UAN.
- Sign in using your UAN.
- After selecting the Activate UAN option from the drop-down menu, the next page will be shown for your review.
- Your UAN number’s information has been activated, as confirmed by the EPFO.
- It is necessary to provide certain information, like your UAN number, member identification number (AADHAR), Aadhar card number (name and date of birth), and mobile phone number (and captcha code).
- Confirm that the declaration is accurate. It says that the government agency may use your Aadhar number in conjunction with the OTP to validate your identity.
- After checking the declaration box, click the button that says “Get Authorization Pin.”
- Entering the authorization PIN that you get in the mail is all required to make your UAN number active for use with the EPFO login.
Create Your UAN Directly Via The EPFO Site (Step-By-Step)
The Employees Provident Fund Organization, often known as EPFO Home, utilises the Universal Account Number, also known as the UAN, to carry out all provident fund functions. On the EPFO website, there is the option to generate a UAN straightforwardly.
After following these steps, you can generate the UAN directly via the EPFO website. –
- This marks the beginning of the process. Visit the Employees Provident Fund Organization (EPFO) homepage at https://epfindia.gov.in/site to learn more about the organisation (sign in using your UAN credentials)
- From the menu on the screen’s right-hand side, choose the option labelled “Direct UAN allocation by workers.” At this point in the process, the Aadhar number has to be input.
- A one-time password will be sent to the registered mobile phone number (OTP).
- To finish the procedure, type in the OTP that was provided. The UIDAI will be informed of the information that has been gathered.
- Clicking on the “Register” button at this procedure stage will finish your registration.
- At this stage, which is the final one, your UAN will be generated and displayed before your own eyes. Additionally, new UANs are assigned to the phone number that was registered.
UAN For An Existing PF Account
The Employees Provident Fund Organization, popularly known as EPFO Home, uses the Unique Account Number (UAN) as its primary method for keeping account information for EPFO members. On the EPFO website, existing Provident Fund account holders who do not have a UAN may quickly and simply apply for one.
Follow these step-wise processes to get the UAN for a pension fund account already in existence.
- To get started with the procedure, go to the EPFO website, which may be found at https://unifiedportal-mem.epfindia.gov.in/memberinterface (UAN Login)
- To assign a UAN to an existing PF, choose it from the right-hand pane and click on it.
- You’ll see a brand new window appear. Both the Aadhar number and the Captcha Code are required to be input.
- If an employee already has a PF account, enter their information into the appropriate fields.
- After filling out the information, go to the next step using the continue button.
- You will acquire a new UAN by using the account that you already have.
- In the future, only users with a valid UAN will be able to view information relevant to PF.
The Employees Provident Fund Organization (EPFO) is mulling over the possibility of establishing a centralised system for the distribution of pension payments. By using this method, the organisation would be in a position to provide pension payments to retirees in various parts of India.
This will be beneficial to over 73 million senior citizens in India. The EPFO has grown to include 138 regional offices, each of which is responsible for the distribution of pension benefits within its territory. Retirees in different parts of the country are paid their benefits on different schedules. 138 EPFO offices will be responsible for providing information on retirees to the new system. It is anticipated that using this strategy would make the process of disbursing pension funds more straightforward, in addition to saving money and time.
When it comes to the construction of this infrastructure that is facilitated by information technology, EPFO intends to solicit the assistance of CDAC. The planned IT system would make it possible to combine or remove duplicates from members’ funds (PF) accounts. When you switch employment in the future, you won’t have to transfer your account.
Checking the PF balance using UAN and the EPFO Login can be done if you have the EPFO Login. By logging in with your UAN, you will have access to the online dashboard, where you will be able to make use of services such as checking your EPFO passbook, modifying your contact information, and following the progress of your claim. Because users may now login using their UAN, EPFO’s services have become more effective.
Questions that individuals often pose (FAQs)
Q: What is the abbreviation for the Employees’ Provident Fund Organization?
The acronym EPFO is an abbreviation for the Employees’ Provident Fund Organization.
Q: What exactly does “UAN” refer to?
A 12-digit Universal Account Number, often known as a UAN, is required for a PF contributor to take advantage of EPFO’s services.
Q: Who is in charge of assigning UANs to sign people into their UAN accounts?
It is the responsibility of the EPFO to distribute UAN.
Q: My PF account balance is not shown anywhere. I cannot find it. What should I do?
Checking the balance of your PF account may be done by SMS, online, via the UMANG application, or by giving the number 011-22901406 a missed call.
Q: Is it feasible to change the mobile phone number registered with EPFO?
Yes, absolutely. It is feasible to bring the EPFO website up to date with your current contact information. All you have to do is visit the website and follow the steps.
Q: Where can I find the UAN Login?
Access to the Universal Account of an EPFO member is available online via the UAN Login, which requires both a login ID and a password.
Q: How does one reset the password for logging into their UAN account?
You may create a new password for your UAN account by going to the UAN login page and selecting the Forgot Password option next to the UAN login window.