The Employees’ Provident Fund Organisation (EPFO) has extended the deadline for activating Universal Account Numbers (UAN) and linking Aadhaar numbers to bank accounts under the Employment Linked Incentive (ELI) scheme.
The new deadline is January 15, 2025, providing employees more time to complete the process, which was initially set for December 15, 2024. This extension is crucial for those aiming to receive direct benefit transfers (DBT) under the ELI scheme.
ACTIVATING UAN: A STEP TOWARDS SEAMLESS EPFO SERVICES
Activating your UAN is essential to access the EPFO’s wide range of online services. The UAN is a unique 12-digit number assigned to employees by EPFO, offering a convenient way to manage Provident Fund (PF) accounts.
Once activated, employees can view and download their PF passbooks, file claims for withdrawals, advances, or transfers, and update personal information—all from the comfort of their homes. This eliminates the need for in-person visits to EPFO offices.
To activate the UAN, employees need to follow these steps:
Visit the EPFO Member Portal.
Click on ‘Activate UAN’ under the ‘Important Links’ section.
Provide the UAN, Aadhaar number, full name, date of birth, and Aadhaar-linked mobile number.
Consent to Aadhaar OTP verification.
Enter the OTP sent to the registered mobile number.
Upon successful activation, a password will be sent to the registered mobile number, completing the process.
ELI SCHEME: A BOOST FOR EMPLOYMENT AND JOB CREATION
The ELI scheme, part of the Union Budget 2024-25, aims to stimulate job growth and incentivise both employers and employees. With a central allocation of Rs 2 lakh crore, the scheme intends to create over 20 million jobs in two years and benefit 41 million young individuals over five years. The three components of the scheme include:
Scheme A: Offers a one-month wage (up to Rs 15,000) for first-time employees.
Scheme B: Incentivises job creation in the manufacturing sector with EPFO contribution benefits.
Scheme C: Reimburses employers for their EPFO contributions for new hires.
This scheme represents a significant step toward bolstering employment opportunities and skill development across India.
In other words, the EPFO’s extension of the UAN activation deadline provides valuable time for employees to complete the process and access a range of digital services. Moreover, the ELI scheme’s incentives are set to drive employment growth and provide critical support for the nation’s workforce.
