EPFO: There is encouraging news for individuals interested in the Employment Linked Incentive (ELI) scheme offered by the EPFO, particularly for those who have yet to take advantage of it. The Employees Provident Fund Organization (EPFO) has announced an extension of a crucial deadline associated with this initiative.
Important to activate the Universal Account Number and link
To benefit from the ELI scheme, it is essential to activate the Universal Account Number (UAN) and link the bank account with Aadhaar. The new deadline for completing this process has been set for March 15, 2025, an extension from the previous date of February 15, 2025. This decision will alleviate concerns for employees who have not yet activated their UAN or completed the linking of their bank account with Aadhaar.
Know about ELI scheme
The Employment Linked Incentive (ELI) Scheme was launched by the Central Government as part of the Union Budget 2024, aiming to enhance employment opportunities across the nation and support workers in the organized sector.
To access the benefits of the EPFO scheme, employees must ensure their UAN is activated and their bank account is linked to Aadhaar. Only upon fulfilling these requirements can they receive the incentives provided by the EPFO. The organization has also disseminated this information via the social media platform X, emphasizing the necessity of linking Aadhaar with the bank account.
The Universal Account Number (UAN) is a distinctive 12-digit identifier assigned by the EPFO to all eligible salaried employees. This number facilitates the consolidation of all PF accounts associated with the employee onto a single platform throughout their employment, enabling them to monitor PF contributions made by various employers with ease.
