EPFO: The deadline for activating the Universal Account Number (UAN) to avail the benefits under the Employment Linked Incentive (ELI) scheme has been set as 15 January 205 by the Employees’ Provident Fund Organization (EPFO). That is, there are only 5 days left to complete this task.
EPFO: The deadline for activating the Universal Account Number (UAN) to avail the benefits under the Employment Linked Incentive (ELI) scheme of the Employees’ Provident Fund Organization (EPFO) is 15 January 205. That is, 5 days are left to complete this work. Earlier this deadline was 30 November 2024, which was extended to 15 December 2024 and now once again extended for a month. This process is mandatory to avail the benefits of EPFO’s Employment Linked Incentive (ELI) scheme.
UAN and Aadhaar link required for ELI scheme
The ELI scheme was announced by Finance Minister Nirmala Sitharaman in the Union Budget of July 2024. It includes three options A, B, and C. Under this, employees wishing to get financial benefits are required to activate their UAN and link Aadhaar to the bank account. This process of EPFO has been made mandatory. So that eligible employees can easily get the benefits of the scheme.
Objective of ELI Scheme
The ELI scheme was launched by Finance Minister Nirmala Sitharaman in the Union Budget 2024. Its aim is to increase employment and encourage companies to hire new employees. This scheme is divided into three parts.
Scheme A: Companies will get a subsidy of ₹ 15,000 on hiring new graduates, which will be given in three installments.
Scheme B: There is a special scheme for the manufacturing sector, in which companies will get ₹ 3,000 per month per employee for two years on new recruitments.
Scheme C: General incentives will be given to increase the workforce in various industries.
Why is it necessary to activate and link UAN?
EPFO has stated that UAN of all members should be linked and active with Aadhaar. This allows the employee to view PF passbook, claim online and update his information. Apart from this, Aadhaar link is necessary to get the benefit of any government scheme directly in the bank account.
UAN Activation Process
Visit EPFO portal: https://unifiedportal-mem.epfindia.gov.in/memberinterface/
Click on ‘Activate UAN’ and enter UAN number, Aadhaar number, date of birth and mobile number linked to Aadhaar.
Verify through OTP and generate password.
Last date and benefits
Employers have to ensure that all employees complete this process by January 15, 2024, so that the benefits of ELI scheme can be availed.
