Great news for anyone looking to benefit from the EPFO’s Employment Linked Incentive (ELI) scheme but hasn’t been able to yet! The Employees Provident Fund Organization (EPFO) has pushed back an important deadline for this scheme. To take advantage of the ELI, you need to activate your Universal Account Number (UAN) and link your bank account with Aadhaar.
Now, you have until March 15, 2025, to get this done, which is an extension from the previous deadline of February 15, 2025. This is a relief for those who haven’t activated their UAN or completed the bank account linking process with Aadhaar.
So, what’s the ELI scheme all about?
The Employment Linked Incentive (ELI) Scheme was rolled out by the Central Government in the Union Budget 2024. Its main goal is to boost job opportunities in the country and support workers in the organized sector. The scheme is split into three categories—A, B, and C.
1. Scheme A is aimed at first-time job seekers who are joining the EPF scheme.
2. Scheme B focuses on promoting jobs in the manufacturing sector.
3. Scheme C is designed to assist employers in hiring more staff.
Why do you need to activate your UAN and link Aadhaar?
To benefit from the EPFO scheme, employees must have their UAN activated and their bank account linked to Aadhaar. Only after completing these steps can they enjoy the incentives offered by EPFO. They’ve even shared this info on social media, emphasizing the importance of linking Aadhaar with your bank account.