Personal Finance News
2 min read | Updated on December 05, 2024, 17:13 IST
SUMMARY
The Employees’ Provident Fund Organisation (EPFO) on December 4 provided an extension to the employers for activating UAN and linking Aadhaar, pushing the deadline to December 15 from the earlier deadline of November 30. To be eligible for the Employment Linked Incentive (ELI) scheme, employees must have an activated UAN and an Aadhaar linked with a bank account.
The ELI scheme is aimed at creating two crore jobs in the country in the next two years
The Employees’ Provident Fund Organisation (EPFO) has extended the deadline to activate the Universal Account Number (UAN) and link Aadhaar with bank accounts to avail the Employment Linked Incentive (ELI) scheme benefits.
EPFO on Wednesday, December 4, announced through a social media post on X that employers can now complete UAN activation and seed (link) Aadhaar with bank accounts until December 15, 2024. The previous deadline was November 30, 2024.
In the post, EPFO said, “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.”
While the deadline extension is expected to help many, the government is yet to provide more details on the ELI scheme.
Employers must work on UAN activation and Aadhaar seeding for their employees, starting with the ones hired most recently.
The ELI scheme is aimed at creating two crore jobs in the country in the next two years. It is focused on boosting employment in the formal sector. In the Union Budget 2024, the central government announced three schemes under the Employment Linked Incentive. It is a part of Prime Minister Modi’s combination of five schemes for job creation and skill development for over four crore youth with an outlay of ₹2 lakh crore. To be eligible for the scheme, individuals must have an activated UAN and a bank account linked with Aadhaar.
Members new to the Employees Provident Fund can activate their UAN online through the EPFO Member Sewa portal by entering relevant details.
In another post on X on Thursday, December 5, the EPFO said, “It is important to file ECR (Electronic Challan cum Return) and remit EPF and related dues of all EPF members whose UANs are generated under your establishment to avail the benefits of the Employment Linked Incentive (ELI) Scheme.”
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