Correct option is C
The correct answer is: (C) Universal Account Number.
Explanation:
In the context of Provident Fund (PF), UAN stands for Universal Account Number.
It is a unique 12-digit identification number provided to every employee contributing to the Employees' Provident Fund (EPF).
The UAN acts as a central number for all PF accounts across an individual's career, allowing easy access and management of their PF accounts from multiple employers.
Additional Knowledge:
- UAN helps in linking multiple PF accounts under one number for each employee, regardless of how many times the person switches jobs.
- The UAN simplifies the transfer and withdrawal of Provident Fund contributions and ensures better management of retirement savings.
- Employees can access their PF details such as balance, statements, and transfer requests through the UAN portal, ensuring greater transparency and convenience.
English
100 Questions
100 Marks
90 Mins
