The Employees’ Provident Fund Organisation (EPFO) has mandated the activation of the Universal Account Number (UAN) and Aadhaar linkage by November 30, 2024. This requirement is crucial for employees and employers to access the benefits of the Employment-Linked Incentive (ELI) scheme, introduced in the Union Budget 2024 by Finance Minister Nirmala Sitharaman. The scheme aims to promote formal-sector employment and operates through three components: Scheme A, Scheme B, and Scheme C.
A key feature of the ELI scheme is the Direct Benefit Transfer (DBT) mechanism, which disburses benefits directly to employees’ Aadhaar-linked bank accounts. To ensure seamless implementation, the Ministry of Labour & Employment issued a reminder on November 21, urging employers to prioritize activating UANs for their most recent hires.
To activate your UAN and link it with Aadhaar, follow these steps:
Conclusion: The November 30, 2024, deadline for UAN activation and Aadhaar linkage is a crucial step toward securing the benefits of the ELI scheme. By taking swift action, both employers and employees can ensure compliance and enjoy the streamlined services offered by the EPFO.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.
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