EPFO: The Employees Provident Fund Organization (EPFO) has once again extended the deadline to activate the Universal Account Number (UAN) to take advantage of employment incentives (ELI) scheme. Now the last date for linking UAN to Aadhaar is March 15. Even before this, the government has advanced the deadline of the scheme. EPFO has appealed to all eligible members to complete this process in time. The company, employer and employee benefit this scheme of the government. These schemes are planned to protect the employees from pension and money crisis after future and retirement.
EPFO issued rules of ELI scheme
The Employees Provident Fund Organization (EPFO) has instructed all employers to activate their employees’ universal account number (UAN) and link the bank account to Aadhaar. This process is mandatory to take advantage of the Employment-Linked Promotion (ELI) scheme. Employers have been advised to update everyone’s information while starting with their new employees, so that the benefits of the scheme can be available on time. Employees can also do the work of activating UAN and linking to Aadhaar.
Why is ELI scheme necessary?
The ELI scheme was launched by Finance Minister Nirmala Sitharaman in the Union Budget 2024. It aims to increase employment and encourage companies to appoint new employees. The scheme is divided into three parts.
Plan a: Companies will get a subsidy of Rs 15,000 for appointing new graduates, which will be given in three installments.
Plan b: There is a special plan for the manufacturing sector, in which companies will get Rs 3,000 per employee for two years on new recruitments.
Plan C: Incentives will be given to increase workforce in different industry. However, the rules for this scheme are yet to be issued by the government.
Why is UAN active and linking?
EPFO has reported that all members should be linked to Aadhaar and active. This allows the employee to see the PF passbook, claim online and update his information. In addition, Aadhaar link is necessary to get the benefit of any government scheme directly into the bank account.
How to activate uan
Go to EPFO portal: https://unifiedportal-mm.epfindia.gov.in/memberinterface/
Click on ‘Activate UAN’ and enter the mobile number link to UAN number, Aadhaar number, date of birth and Aadhaar.
Verification through OTP and generate passwords.
Gold Rate Today: Gold appeared in gold on February 25, silver crosses Rs 1,01,000