ELI Scheme: There is important information for lakhs of employee-account holders of the Employees’ Provident Fund Organization (EPFO). EPFO has once again extended the deadline for UAN activation and Aadhaar seeding from bank accounts so that the benefits available under the ELI scheme (Employee Linked Incentive Scheme) can be availed.
Now employees can complete this work by 30 June 2025. This decision of EPFO will directly benefit lakhs of employees, especially unorganized and contract workers will get another chance to get insurance benefits under ELI schemes (Employee Life Insurance). This is a golden opportunity, because if UAN is not activated, then salaried employees will not be able to avail the benefits of the ELI scheme.
Why is the UAN number so important
It is very important for every EPFO customer to have a Universal Account Number (UAN), which is linked to their Aadhaar. This UAN has to be activated by logging in to the member portal so that many facilities can be availed from one place.
Through the UAN number, employees can view their PF passbook, download it, claim online for withdrawal, advance, or transfer, update personal details, and track the status of claims in real-time. In short, UAN is a key that opens all the doors related to your PF.
Know what is ELI Scheme
In the budget for the financial year 2024-25, three schemes – A, B, and C were announced for the Employment Linked Incentive Scheme. The main objective of the ELI Scheme is to increase new employment and assist both employees and employers.
The scheme aims to generate employment, skills, and other opportunities for 4.1 crore youth with an expenditure of ₹ 2 lakh crore in 5 years.
The ELI scheme aims to create more than 2 crore jobs in 2 years
Under the scheme, employees who are working for the first time will be given a salary of up to ₹ 15,000 in three installments. This money will go directly to the bank account linked to Aadhaar.
In this scheme, employers and new employees will get incentives on EPFO contribution for 4 years.
In this, the government will give ₹ 3,000 per month to the employer for every new employee. This help will be available for two years. This will enable employers to employ more people.
Employees with a salary up to ₹ 1 lakh can also avail the benefits of this scheme. This ensures that the benefits of the scheme reach a wider class.
How to activate the UAN number
Activating your UAN number is a straightforward process. Follow these steps:
First, visit the official website of EPFO epfindia.gov.in.
Click on ‘For Employees’ in the ‘Services’ section.
Click on ‘Member UAN Online Service OCS OTCP’ appearing in the second place in the ‘Services’ column.
After this click on ‘Activate UAN’.
Now fill in the 12-digit UAN and Aadhaar number, name, date of birth, mobile number linked to Aadhaar, captcha code, etc.
Click on the Declaration Check Box given below.
Click on the ‘Get Authorization Pin’ button.
Now you have to enter the received OTP (One Time Password) and click on the ‘Submit’ button.