New Delhi, Dec. 7 -- The Employee Provident Fund Organisation (EPFO) allows individuals to only have one Universal Account Number (UAN). Think of UAN as an umbrella account that can house multiple member IDs. When you switch jobs, your member ID changes but your UAN remains the same.

However, in some cases, you may be allotted a new UAN despite already having one. This can happen if your previous employer did not mention in its record (electronic challan cum return) that you have left the company or if you make an incorrect declaration when joining a new company.

It's crucial to ensure that you retain a single UAN when switching jobs. That's because there's a tax waiver on interest earned in the EPF account if you contribute to it for a...