Don’t Miss Out! Activate your UAN for EPFO’s ELI scheme by THIS date. How to activate? Details here | Mint
Source: Live Mint
The Employee Provident Fund Organisation (EPFO) has extended the deadline for activating the Universal Activation Number (UAN) and linking the bank account with Aadhaar to January 15, 2025.
The original deadline for UAN activation was November 30, 2024, which was later extended to December 15, 2024.
“Please see the circulars cited. In this connection, the competent authority has granted an extension of timeline from 15.12.2024 to 15.01.2025 for UAN activation and Aadhaar seeding in bank account of all the employees,” EPFO said in a circular released on December 20, 2024.
Why UAN activation is important?
A UAN is a 12-digit number that helps to manage provident fund accounts. UAN activation and linking a bank account to an Aadhaar is mandatory to avail of benefits of the Employment Linked Incentive (ELI) Scheme by EPFO.
“It is mandatory to seed your Aadhaar with your Bank Account to avail the benefits of the Employment Linked Incentive (ELI) Scheme, an employment-centric scheme focusing on job creation in the country. Do it timely to avoid last-minute hassle!” the official handle of EPFO posted on X.
How to activate EPF UAN?
Step 1: Go to the official website of EPF; www.epfindia.gov.in
Step 2: Click on ‘Our Services’ and click on ‘For employees’
Step 3: Select ‘Member UAN/ Online Services’
Step 4: Choose ‘Activate your UAN’ (under ‘Important Links’ on the right-hand side)
Step 5: Enter your basic details, such as UAN, Name, Date of birth, Mobile number, and captcha, and click on ‘Get Authorization pin.’ Then, an OTP will be sent to the registered mobile number.
Step 6: Select ‘I Agree’ and enter the OTP
Step 7: Click on ‘Validate OTP and Activate UAN’
What is ELI scheme?
Finance Minister Nirmala Sitharaman introduced the ELI scheme in Budget 2024. It comprises three types: A, B, and C. It aims to provide benefits to first-time employees, create jobs in manufacturing, and support employers.
What are the features of ELI scheme?
A: First-time employees
Under this scheme, one month’s wage to all persons newly entering the workforce in all formal sectors. The direct benefit transfer of one month’s salary in 3 instalments to first-time employees, as registered in the EPFO, will be up to 15,000, according to the budget documents.
B: Job creation in the manufacturing sector
The scheme aims to incentivize additional employment in the manufacturing sector, which is linked to the employment of first-time employees. An incentive will be provided at a specified scale directly to the employee and the employer regarding their EPFO contribution in the first 4 years of employment.
C: Support to employers
The Government will reimburse employers up to ` 3,000 per month for 2 years towards their EPFO contribution for each additional employee.
However, it must be noted that the government has not yet announced the effective date of implementation, the scheme, or other details.
