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7 Key HR Lessons SME Businesses Can Learn From Corporates
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UAN
UAN stands for Universal Account Number, and it is a unique 12-digit number that is assigned to an employee who contributes to the Employee Provident Fund (EPF). In an employee master, UAN details refer to an employee’s UAN and other relevant information related to their EPF account.
The UAN serves as a single identifier for all of an employee’s EPF accounts across different employers. It allows employees to easily transfer their accumulated EPF funds from one employer to another, without having to initiate the transfer manually.
Employers are required by law to provide their employees with a UAN number and ensure that their EPF contributions are deposited into the appropriate account. Employers may also use the UAN number for various purposes such as monitoring employee contributions and processing employee claims related to their EPF account.
When collecting UAN details, employers must comply with applicable laws and regulations governing data privacy.
It is also important for employers to take necessary measures to protect the confidentiality of employee data, including storing it securely and limiting access only to authorized personnel who need such information.