The Employee Provident Fund Organisation (EPFO) extended the last date for activating the Universal Account Number (UAN) and linking your bank account with Aadhaar to January 15, 2024. The UAN activation and linking of bank account with Aadhaar is necessary to avail of benefits under the EPFO’s Employment Linked Incentive (ELI) Scheme. Originally deadline was set for November 30, 2024, it was previously extended to December 15, 2024, before it was extended by one month.
Employees looking to claim monetary benefits under the Employment Linked Incentive (ELI) scheme must activate their UAN) and link their Aadhaar to their bank account. This mandatory process, overseen by the Employee Provident Fund Organisation (EPFO), is essential for availing the scheme’s benefits. The ELI Scheme was announced by Finance Minister Nirmala Sitharaman during the Union Budget 2024 in July. The ELI scheme comprises three variants: A, B, and C.
According to Finance Minister Nirmala Sitharaman’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.”
The EPFO on social media platform X posted, “It is mandatory to seed your Aadhaar with your Bank Account to avail the benefits of the Employment Linked Incentive (ELI) Scheme, an employment-centric scheme focusing on job creation in the country. Do it timely to avoid last-minute hassle!” Can you add Twitter link to UAN Activation as well?
— socialepfo (@socialepfo)
“Please see the circulars cited. In this connection, the competent authority has granted an extension of timeline from 15.12.2024 to 15.01.2025 for UAN activation and Aadhaar seeding in bank account of all the employees,” said EPFO in a circular dated December 20, 2024.
— socialepfo (@socialepfo)
How to activate EPF UAN through Aadhaar-based OTP
The activation process can be completed using an Aadhaar-based OTP (One-Time Password), according to the PIB release on November 21, 2024. Here are some simple steps for employees to activate their UAN to avail ELI scheme benefits:
Step 1: Go to EPFO Member Portal.
Step 2: Click on the “Activate UAN” link under “Important Links”.
Step 3: Enter UAN, Aadhaar number, name, DOB, and Aadhaar-linked mobile number.
Step 4: Employees should ensure their mobile number is Aadhaar-linked to access the full range of EPFO’s digital services
Step 5: Agree to Aadhaar OTP verification.
Step 6: Click “Get Authorization PIN” to receive an OTP on your Aadhaar-linked mobile number.
Step 7: Enter the OTP to complete the activation
A password will be sent to your registered mobile number upon successful activation.
What EPFO said about ELI scheme deadline
The Ministry of Labour and Employment said in a dated November 22, 2024, “Since the benefits under the Employment-Linked Incentive (ELI) scheme, will be disbursed through Direct Benefit Transfer (DBT) to eligible employees, Employers are urged to ensure UAN activation and Aadhaar seeding in Bank Account…..in respect of all their employees who have joined in the current financial year, starting with the latest joinees.”
The EPFO further in a circular dated December 20, 20242024, said, “Please see the circulars cited. In this connection, the competent authority has granted an extension of timeline from 15.12.2024 to 15.01.2025 for UAN activation and Aadhaar seeding in bank account of all the employees.”
What are the features of ELI scheme as per budget documents?
ELI is a scheme announced in the Union Budget 2024 in July, and there are three variants of the scheme. The three varinatsvariants to be implemented are as below:
Scheme A: First-time employees
This scheme will provide a one-month wage to all persons 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 of Rs 1 lakh per month.
Scheme B: Job creation in manufacturing
This scheme will incentivize additional employment in the manufacturing sector, linked to the employment of first-time employees. An incentive will be provided at a 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: Support to employers
This employer-focused scheme will cover additional employment in all sectors. All additional employment within a salary of Rs 1 lakh per month will be considered under this scheme. The government will reimburse employers up to Rs 3,000 per month for 2 years towards their EPFO contribution for each additional employee.
It is important to note that though the scheme has been announced in the budget. However, the government is yet to notify the scheme details and effective date for the implementation of the scheme.
