EPFO extends deadline to activate UAN for ELI scheme, check last date here
As per EPFO, “Dear Employers, the date of UAN activation and Aadhaar seeding of Bank Account has been extended till 15th December. Ensure to do the same for all employees who have joined in the current financial year, starting with the latest joinees, to avail the benefit of the Employment Linked Incentive scheme.”
There was an expectation of EPFO extending the last date to activate UAN for new joinees. This is because the government is yet to announce the details of the ELI Scheme.
What is Employment Linked Incentive (ELI) Scheme?
The Central Government introduced three ELI schemes (A, B, and C) during the Union Budget 2024. The scheme benefits are proposed to be disbursed by Direct Benefit Transfer (DBT) to the beneficiary bank account, provided it is linked to Aadhaar. According to the Finance Minister’s Budget 2024 speech, Scheme A will focus on first-timers joining the employment and Employees’ Provident Fund (EPF) scheme as well, Scheme B focuses on job-creation in manufacturing and Scheme C will focus on the support to the employers.
Scheme A of the ELI scheme will provide a one month wage to all the people newly entering the workforce in all formal sectors. The direct benefit transfer of one month salary in 3 instalments to first-time employees, as registered in the EPFO, will be up to Rs 15,000. The eligibility limit will be a salary up to Rs 1 lakh per month.
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