EPFO News: To ensure that all employees get benefits under the ELI scheme, employers are being asked to complete all the processes by November 30, 2024.
The Ministry of Labour and Employment has directed the Employees’ Provident Fund Organisation (EPFO) to ensure that the Universal Account Number (UAN) of employees is valid to avail the benefits of the Employment Linked Incentive (ELI) scheme. As per the Union Budget 2024-2025, all eligible employees will have to activate their UAN and link their Aadhaar with their bank accounts to avail the ELI scheme.
For employees to avail various services like viewing and downloading PF passbook, filing claims online and receiving payments through Direct Benefit Transfer (DBT) schemes, UAN activation and Aadhaar seeding are essential processes.
30 November is the last date
To ensure that all employees joining during the current financial year get the benefits under the ELI scheme, employers are being asked to complete all the processes by November 30, 2024. More information can be obtained from the concerned EPFO office.
In a circular issued on November 22, the organisation said, “Since the benefits under the ELI scheme will be given to the eligible employees through DBT, employers are requested to ensure UAN activation and Aadhaar seeding in the bank account by November 30, 2024 in respect of all their employees joining in the current financial year.
How to activate UAN
Step 1:To avail ELI, visit the EPFO member portal and click on the “Activate UAN” link under “Important Link”.
Step 2:Enter your UAN, Aadhaar number, name, date of birth and mobile number linked with Aadhaar. Employees must ensure that their mobile number is Aadhaar-linked to access the full range of EPFO digital services.
Step 3:Agree for Aadhaar OTP verification.
Step 4:Click on “Get Authorization PIN” to receive OTP on your Aadhaar linked mobile number.
Step 5:Enter the OTP to complete the activation.
Step 6:On successful activation a password will be sent to your registered mobile number.
What is ELI scheme
The Union Budget introduced the ELI scheme to encourage job creation. Employees recruited by formal enterprises who find employment for the first time will receive a monthly salary of around ₹15,000 from the government. It will also provide cash incentives to employers and employees for their contributions to India’s state-run Provident Fund (PF) scheme. In addition, employers’ PF contributions will be reimbursed up to ₹3,000 per month over two years for each additional employee hired.
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