Which of the following is correct about Universal Account Number ........

Economic Affairs Pension and Insurance

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Which of the following is correct about Universal Account Number?

It provides automatic portability of Provident Fund account on change of employment

It is the universal identification key of the income tax payer to track his financial transactions.

It is the single account number that is universally used across the banks.

It is the account used by the beneficiaries of public distribution system.

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Explanation:

• Employees' Provident Fund Organisation (EPFO) introduced a new system called Unique Account Number (UAN) which helps employees manage their provident fund accounts without any hassles. UAN is a unique 12-digit number assigned to an employee by EPFO India
• The EPFO UAN number will act as a marker of identity for an employee till his/her retirement.