ELI benefits from EPFO: Deadline for eligible employees to activate UAN is November 30, 2024; here’s how to do it
Universal Account Number (UAN) and seeding of Aadhaar to bank account is must for employees who wish to claim benefit of Employment Linked Incentive (ELI) scheme, which is administered through the Employees Provident Fund Organisation (EPFO). This mandatory exercise needs to be completed by November 30, 2024, if you want to get the benefits of the ELI scheme. Finance minister Nirmala Sitharaman announced this new scheme during the Union Budget 2024 in July and there are three types of ELI schemes (A, B, and C).
«Since the benefits under 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 by 30th November 2024 in respect of all their employees who have joined in the current financial year, starting with the latest joinees,” the Ministry of Labour and Employment said in an EPFO in a circular dated November 22, 2024.
UAN activation needed for ELI scheme
EPFO also stated in its circular that to get the benefits of the ELI scheme, employees need to activate their UAN and seed Aadhaar in their bank accounts.
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“Every subscriber of EPFO is required to have an Aadhaar-linkediversal Account Number (UAN), which needs to be activated by creating login on the Member Portal, for availing a number of facilities through a single window. Such facilities include the ability to view and download PF passbooks; submit online claims for withdrawals, advances, or transfers; update
