To Qualify for the ELI Benefits must be completed these mandatory process today:EPFO members now have very little time left to avail the benefits of the Employment Linked Incentive Scheme. As per the Union Budget 2024-2025, all eligible employees have to acquire their Universal Account Number (UAN) and link the Aadhaar number with their bank account to participate in the ELI scheme.For this, today i.e. Saturday 30 November 2024 is the last date.
The Central Government had already instructed EPFO to ensure UAN validity for the ELI scheme. To avail the benefits and services, employees have to activate their UAN and link their Aadhaar number with their bank accounts by November 30, 2024.Union Budget for the current financial year 2024-25More and more companies and employees should benefit from the Employment Linked Incentive Scheme (ELI Scheme) announced in,To ensure this, the Ministry of Labor and EmploymentEPFO needs to work actively with companiesInstructions were given. Along with this, they were also asked to activate the Universal Account Number (UAN) of the employees.
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Activate your UAN like this
The process of UAN activation can be completed using Aadhaar based OTP (One-Time Password). Employees of companies can activate their UAN online from home with the help of the steps given below.
First of all go to EPFO membership portal.
Now click on the “Activate UAN” link under “Important Links”.
After this, fill the required details like UAN number, Aadhaar number, name, date of birth and Aadhaar linked mobile number.
Employees should ensure that their mobile number is linked to Aadhaar to avail all the digital services of EPFO.
Give your consent for Aadhaar based OTP verification.
Now click on “Get Authorization PIN” to get OTP on Aadhaar linked mobile number.
To complete the UAN activation process, enter the OTP received on your mobile number.
After successful activation a password will be sent to your registered mobile number.
In case of any problem, you can also take help of this video.
The Ministry of Labor & Employment, Government of India has directed 30th November as the last date to employers for Aadhaar-based UAN Activation of its new employees. It is important to activate your UAN to enjoy the services of EPFO such as PF, Pension, Insurance, and most… pic.twitter.com/Wb8TIW4EZN
— EPFO (@socialepfo) November 28, 2024
In the second phase, UAN activation will further include the latest feature of biometric verification through face-recognition technology.
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What is ELI Scheme?
The ELI scheme is designed to facilitate employment generation and provide incentives to companies and employees. This is an ambitious plan of the Central Government. The scheme aims to create more than 2 crore jobs in the country in a period of 2 years. This will contribute significantly to increasing employment opportunities and livelihood. In August this year, the Central Government had given instructions to implement the ELI scheme announced in the Union Budget 2024-25 in mission mode with the aim of promoting employment generation.The Central Government has announced three schemes for Employment Linked Incentive (ELI). These schemes aim to provide employment, skills and other opportunities to 4.1 crore youth in the next 5 years with a budget of Rs 2 lakh crore.
The main objective of this scheme is to increase employment and encourage the company to hire new employees. The government has divided the ELI scheme into three parts: A, B and C.
Scheme A: This scheme encourages companies to hire new graduates. Companies will get a subsidy of Rs 15,000 for every new employee, which will be given in three equal installments. Its aim is to motivate companies to bring on board new talent, and the government estimates that around 30 lakh young job seekers will benefit from the scheme.
Scheme B: This scheme is especially for the manufacturing sector. In this, on recruitment of new employees For EPF contributionCompanies will get Rs 3,000 per employee monthly for two years. For this, companies will have to either hire 50 new employees or increase their workforce by 25%.Small companies with less than 50 employees will have to add at least two new employees, while larger companies will have to add at least five employees to be eligible.
Scheme C: The scheme provides general incentives to employers to increase their workforce. Under this, companies will be given benefits on recruiting additional employees. However, no further information has been revealed about this. It is expected that Scheme C will work together with the other two schemes so that more and more people can get jobs in companies.
The Ministry of Labor and Employment had directed EPFO to actively work with employers to ensure that more and more companies and employees benefit from the ELI scheme announced in the Union Budget 2024-25. Along with this, employees were also asked to activate their UAN. The Ministry had recently asked the companies to complete the process of UAN activation through Aadhaar based OTP for all their employees joining in the current financial year i.e. FY 2024-25 by 30 November 2024. This is to start with the recently joined employees. After this, the companies have to complete this process for all the employees working with them.
UAN activation provides employees seamless access to comprehensive online services of EPFO. Through this, they can handle their Provident Fund (PF) accounts properly, check PF passbook and download it, request for advance withdrawal from PF account online from home. Are. Or you can apply for transfer of PF account. Through this, employees can update their personal details and keep an eye on the claim till it is settled. This provides employees with convenient access to EPFO services from anywhere and anytime, eliminating the need to visit EPFO offices.
