UAN Activation Deadline for EPFO’s ELI Scheme Extended to January 15, 2025

The Employee Provident Fund Organisation (EPFO) has extended the deadline for activating Universal Account Numbers (UAN) and linking Aadhaar with bank accounts to January 15, 2025. This is mandatory to avail of benefits under the Employment Linked Incentive (ELI) Scheme. Initially set for November 30, 2024, the deadline was extended twice before the latest announcement.

What is the ELI Scheme?

The Employment Linked Incentive (ELI) Scheme was introduced in the Union Budget 2024 to promote job creation. It includes three components:

1. Scheme A

Benefits first-time employees with a direct benefit transfer of one month’s wage (up to ₹15,000) in 3 instalments.

1. Scheme B

Focuses on incentivising employment in manufacturing with support for EPFO contributions over 4 years.

1. Scheme C

Supports employers by reimbursing up to ₹3,000 per month for 2 years for additional employees earning up to ₹1 lakh per month.

Steps to Activate UAN via Aadhaar OTP

Follow these steps to activate your UAN and link it with Aadhaar:

1. Visit the EPFO Member Portal.
2. Click on “Activate UAN” under the “Important Links” section.
3. Provide your UAN, Aadhaar number, name, date of birth, and Aadhaar-linked mobile number.
4. Verify the details and agree to Aadhaar’s OTP verification.
5. Click “Get Authorisation PIN” to receive an OTP.
6. Enter the OTP and submit.
7. A password will be sent to your registered mobile number upon successful activation.

Why UAN Activation is Important

UAN activation and Aadhaar seeding are crucial as ELI scheme benefits will be disbursed through Direct Benefit Transfer (DBT) to employees’ accounts. Employers are urged to ensure all employees, especially new joiners, complete this process.

ELI Scheme Features

1.First-Time Employees

1-month salary (up to ₹15,000) for new workers entering formal jobs.

2. Manufacturing Job Creation

Incentives for hiring first-time employees, including EPFO contribution support.

3. Employer Support

Reimbursement of EPFO contributions for additional employees in all sectors.

While the ELI scheme was announced in the Union Budget 2024, its effective date and specific details are yet to be officially notified.

Act Now: Avoid last-minute hassles—activate your UAN and link Aadhaar before January 15, 2025, to enjoy the scheme’s benefits.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.