EPFO Update: If you have not yet activated the Universal Account Number (UAN) or linked Aadhaar with your bank account, then complete this task immediately. To avail the benefit of Employment Linked Incentive (ELI) Scheme, Universal Account Number must be valid and for this there is a chance till tomorrow i.e. Sunday 15th December. To avail the benefits of the Employment Linked Incentive (ELI) Scheme, Employees’ Provident Fund Organization (EPFO) members are required to activate their Universal Account Number (UAN) and link Aadhaar with their bank account. Employed people who have recently become members of EPFO or have become members of EPFO during the current financial year are to get the benefit of the ELI scheme of the Central Government. Apart from the members, employers i.e. companies will also get the benefit of the ELI scheme being launched by the government to promote employment.
According to Employees Provident Fund Organization, Aadhaar OTP based UAN activation is necessary for every member of EPFO so that employees can avail the benefits of ELI scheme. Once the Universal Account Number is activated and linked to Aadhaar, employed people You will also be able to get online services of EPFO and DBT. Employees Provident Fund Organization has The employer i.e. the company has been asked to activate the UAN of every employee who joined in the current financial year. recently Employees’ Provident Fund Organization (EPFO) has extended the deadline for activating the Universal Account Number and linking Aadhaar with the bank account to December 15, 2024. Earlier the last date for this was fixed as 30 November 2024.
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ELI Scheme: What is it?
The central government has launched the Employment Linked Incentive (ELI) scheme in the budget of 2024. This scheme includes three types of schemes, A, B and C. The objective of all three schemes is to promote employment generation and to provide financial assistance to new employees.
ELI Scheme: Scheme A
This scheme is for those who start work in the formal sector for the first time. Under this, benefits will be given directly to new employees registered in EPFO. The government will pay their one month’s salary in three installments, which will be up to a maximum of Rs 15,000. The eligibility limit for this scheme has been fixed at Rs 1 lakh monthly salary.
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ELI Scheme: Plan B
This scheme is to promote additional employment in the manufacturing sector. In this, the government will give incentives on EPFO contribution of new employees and employers for the first 4 years.
ELI Scheme: Plan C
The objective of this scheme is to create additional employment generation i.e. employment in all sectors. For those employees whose monthly salary is up to Rs 1 lakh, the government will reimburse the contribution of up to Rs 3,000 per employee for 2 years to the employers.
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Aadhaar and bank account linking is mandatory to avail the benefits of ELI scheme. Through the ELI scheme, the government is trying to promote employment generation as well as protect the interests of the workers. Completing the process of UAN activation and Aadhaar linking will not only provide financial assistance to new employees but will also provide financial assistance to employers. For those employees or employers who have not yet been able to activate UAN or link the bank account with Aadhaar, this is the last chance to complete the necessary work.
