UAN Activation deadline extended: The Employees Provident Fund Organisation (EPFO) has extended the deadline to activate UAN and Aadhaar seeding of bank account to December 15, 2024, from the original deadline of November 30, 2024

EPFO extends deadline to activate UAN for ELI scheme, check last date here The extension was announced via a post on X

The Employees Provident Fund Organisation (EPFO) has extended the last date to link Universal Account Number (UAN) for Employment Linked Incentive (ELI) scheme to December 15, 2024 from earlier deadline of November 30, 2024. The deadline extension is announced by EPFO via its post on X. Along with the extension of deadline to activate UAN, the government has also extended the date for Aadhaar seeding of bank account.

As per EPFO, “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.”

— socialepfo (@socialepfo)

There was an expectation of EPFO extending the last date to activate UAN for new joinees. This is because the government is yet to announce the details of the ELI Scheme.

What is Employment Linked Incentive (ELI) Scheme?

The Central Government introduced three ELI schemes (A, B, and C) during the Union Budget 2024. The scheme benefits are proposed to be disbursed by Direct Benefit Transfer (DBT) to the beneficiary bank account, provided it is linked to Aadhaar. According to the Finance Minister’s Budget 2024 speech, Scheme A will focus on first-timers joining the employment and Employees’ Provident Fund (EPF) scheme as well, Scheme B focuses on job-creation in manufacturing and Scheme C will focus on the support to the employers.

Scheme A of the ELI scheme will provide a one month wage to all the people newly entering the workforce in all formal sectors. The direct benefit transfer of one month salary in 3 instalments to first-time employees, as registered in the EPFO, will be up to Rs 15,000. The eligibility limit will be a salary up to Rs 1 lakh per month.

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Scheme B of the ELI scheme will incentivize additional employment in the manufacturing sector, linked to the employment of first-time employees. An incentive will be provided at specified scale directly both to the employee and the employer with respect to their EPFO contribution in the first 4 years of employment.

Scheme C of the ELI scheme is an employer-focused scheme that will cover additional employment in all sectors. All additional employment within a salary of Rs1 lakh per month will be counted. The government will reimburse employers up to Rs 3,000 per month for 2 years towards their EPFO contribution for each additional employee.

This story originally appeared on: India Times - Author:Faqs of Insurances