As India is climbing the ladder of growth and development powered by technology, it is shifting its traditional paper-based systems to digital and online systems. Various departments and organisations under the govt have been doing the same including the Employee Provident Funds Organisation (EPFO).
Employee Provident Funds’ Organisation mandated the employees to activate the Universal Account Number (UAN) by linking their respective Aadhaar cards to the account to access the benefits of the Employment Linked Incentive (ELI) Scheme under EPFO. Recently, EPFO extended the deadline for UAN activation for the convenience of people.
Read the news article to know the exact date of the deadline for UAN activation and about the Employment Linked Incentive Scheme.
Extended Deadline For UAN Activation
The Employee Provident Funds’ Organisation has extended the deadline for UAN activation till the 15th of February. All the concerned employees are required to link their respective Aadhaar cards with their Universal Account Number for the successful activation of their accounts.
After UAN activation, beneficiaries would be able to access the benefits of the Employment Linked Incentive (ELI) Scheme.
What Is The Employment Linked Incentive (ELI) Scheme?
The Employment Linked Incentive (ELI) Scheme was first introduced through the Budget of 2023-24 to create more than 20 million jobs in two years. The Sarkari Yojana under EPFO has three major components:
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Scheme A: Scheme A is for newly joined employees in the workforce with a monthly salary of not more than Rs. 1 lakh. After applying for the ELI Scheme, beneficiaries are provided with a month’s salary as a Direct Benefit Transfer (DBT) in three installments with a maximum limit of Rs. 15,000.
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Scheme B: Scheme B covers employees in the manufacturing sector with a monthly salary of not more than Rs. 1 lakh and with a three-year EPFO contribution history. Employers are required to hire at least 50 employees and the incentives are released over 4 years:
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24% of salaries in the first two years,
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16% in the third year, and
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8% in the fourth year.
- Scheme C: Scheme C is created to offer additional employment across all sectors. As per the scheme, the govt will provide Rs. 3000 per month to every additional employee for the next 2 years as a contribution to their EPFO payments.
How To Activate UAN?
Employees can activate their respective Universal Account Number by following some steps mentioned below in step-wise format for a better understanding:
Step 1: Please visit the official website of EPFO.
Step 2: Click on ‘Important Links’ and then navigate to the ‘Activate UAN’ option.
Step 3: Fill in the required information like the UAN, Aadhaar number, full name, date of birth, and the Aadhaar-linked mobile number.
Step 4: Complete verification by filling in the OTP.
Step 5: After verification, you’ll receive a password through an SMS for logging in.
Conclusion
The extended deadline by the EPFO would help the employees in completing the activation process of UAN on time. It would also allow them to access the benefits of the Employment Linked Incentive (ELI) Scheme.
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