EPFO UAN Activation Deadline Extended till December 15 for ELI Benefits – What You Must Do Immediately!

The Employees’ Provident Fund Organisation (EPFO) has extended the deadline for employees to activate their Universal Account Numbers (UAN) to December 15, 2024. This extension gives employees extra time to link their UAN with Aadhaar and bank accounts—a mandatory step to receive Employment Linked Incentive (ELI) scheme benefits directly through the Direct Benefit Transfer (DBT) mechanism.

However, if you missed the deadline, there’s still a path forward to ensure you can avail of these benefits.

What is the Employment Linked Incentive (ELI) Scheme?

The ELI scheme, introduced in the Union Budget 2023-24, aims to boost formal-sector employment by creating over 20 million jobs within 2 years. The scheme comprises 3 components tailored for employees and employers:

1. Scheme A: Direct Benefit for New Employees

• Designed for first-time employees joining the formal workforce.
• Provides one month’s wage as a DBT benefit in three instalments.
• Applicable for employees earning up to ₹15,000 monthly (maximum ₹1 lakh monthly salary).

2. Scheme B: Incentives for Manufacturing Employers

• Targets employers in manufacturing with a history of EPFO contributions for at least three years.
• Requires hiring at least 50 new employees or 25% of the workforce.
• Incentive structure: 24% of wages for two years, 16% in the 3rd year, and 8% in the fourth year.

3. Scheme C: Employer-Centric Support for All Sectors

• Encourages additional employment across all industries.
• The governmentGovernment reimburses up to ₹3,000 per employee per month for two years to cover EPFO contributions for new hires earning up to ₹1 lakh monthly.

Missed the Deadline? Here’s What Employees Can Do Next

If you haven’t activated your UAN or completed the necessary linkages by November 30, 2024, follow these steps:

1. Activate Your UAN

Visit the EPFO Member Portal and activate your UAN. This is the first step to ensure eligibility for ELI benefits.

2. Link Aadhaar and Bank Accounts

• Navigate to the ‘KYC’ section on the EPFO portal.
• Upload and link your Aadhaar details and update bank account information to ensure accurate DBT processing.

3. Seek Employer Assistance

Employers play a pivotal role in coordinating updates with the EPFO. Reach out to your employer for help in completing your UAN activation and KYC updates.

4. Visit EPFO Offices for Support

Employees can visit EPFO offices for manual assistance in case of technical challenges. Ensure you carry necessary documents like Aadhaar, PAN, and bank details for a smooth process.

5. Raise Grievances on EPFiGMS

The Employees’ Provident Fund Grievance Management System (EPFiGMS) allows employees to raise concerns or seek guidance related to UAN activation and ELI benefits.

Final Call to Action

With the extended deadline of December 15, 2024, employees now have time to activate their UAN and link their Aadhaar and bank accounts. Don’t delay—take immediate steps to secure your Employment Linked Incentive (ELI) benefits today!

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.