EPFO to give time till Dec 15 to activate UAN for financial scheme
New Delhi, Dec 5, 2024
The earlier date for UAN activation to get benefits under the ELI Scheme was Nov 30
The Employees’ Provident Fund Organisation (EPFO) has extended till December 15 the deadline for subscribers to activate their Universal Account Numbers (UAN) and link Aadhaar with bank accounts.
The EPFO had previously issued a circular requiring employees to complete the task by November 30 to receive direct benefit transfers (DBT) under the Employment Linked Incentive (ELI) scheme.
On Wednesday, EPFO said on X: “Dear Employers, the date of UAN activation and Aadhaar seeding of Bank Account has been extended till 15th December. Ensure to do the same for all employees who have joined in the current financial year, starting with the latest joinees, to avail the benefit of the Employment Linked Incentive scheme.”
What is the ELI scheme?
The ELI scheme, introduced in the Union Budget for 2023-24, seeks to create more than 20 million jobs in two years by incentivising formal-sector employment.
The scheme has three components:
Scheme A of the ELI offers one-month wage as a direct benefit transfer to individuals newly joining the formal workforce. This benefit, provided in three instalments, is applicable to first-time employees registered with the EPFO, with a maximum limit of Rs 15,000. To qualify, the employee's monthly salary must not exceed Rs 1 lakh.
Scheme B is meant for manufacturing employers with a three-year EPFO contribution history. Employers must hire at least 50 new employees or 25 per cent of their workforce. Incentives are disbursed over four years: 24 per cent of wages for two years, 16 per cent in the third year, and 8 per cent in the fourth year. Employees must earn up to Rs 1 lakh per month.
Scheme C is an employer-centric programme designed to support additional employment across all sectors. It covers new employment with a monthly salary of up to Rs 1 lakh. Under this scheme, the government will reimburse employers up to Rs 3,000 per month per additional employee for two years, contributing towards their EPFO payments.
How to activate your UAN on EPFO member portal to get ELI benefits
Go to the EPFO member portal- https://unifiedportal-mem.epfindia.gov.in/memberinterface/
Locate the ‘activate UAN’ link under the ‘important links’ section on the portal.
Provide your UAN number, Aadhaar number, date of birth, and Aadhaar-linked mobile number.
Ensure your mobile number is linked with Aadhaar to proceed with the verification.
Click on ‘get authorization PIN’ to receive a one-time password (OTP) on your Aadhaar-linked mobile number.
Enter the OTP to confirm and complete the activation process.
Upon successful activation, a password will be sent to your registered mobile number.
[The Business Standard]
