EPFO Members: The deadline to active UAN account for Employees Linked Incentive (ELI) scheme is nearing for EPFO members. The new scheme that is part of Prime Minister's package and was announced in last year budget, is going to offer direct benefit of Rs 15,000 1-month salary to first-time employees registered in EPFO. However, to claim the benefits, EPFO members are required to seed their Aadhaar and activate a UAN account. The deadline is set for March 15.
March 15 Deadline:
In its notification, EPFO extended the deadline for UAN activation and seeding bank account with Aadhaar for availing the benefits under the ELI scheme to March 15, 2025.
What Are UANs?
As per EPFO's FAQs, UAN stands for Universal Account Number to be allotted by EPFO. The UAN will act as an umbrella for the multiple Member IDs allotted to an individual by different establishments. The idea is to link multiple Member Identification Numbers (Member IDs) allotted to a single member under a single Universal Account Number.
How To Activate UAN Account At EPFO?
The first process is to get your UAN number. EPFO members can contact their employers to obtain UAN number. They are readily available by your employers.
Initially, the member will have to activate his UAN by selecting a link given 'Activate your UAN' on the UAN Member Portal. Member should have UAN, Mobile and Member ID readily available to activate his/her UAN on the UAN Member Portal. For further details, please select the hyperlink 'User Manual for Members'.
To activate, EPFO FAQs explained:
Members can activate their UAN by visiting the UAN-based Member Portal website i.e. https://uanmembers.epfoservices.in/. Member should have UAN, Mobile and Member ID readily available to activate his/her UAN on the UAN Member Portal. For further details, select the hyperlink 'User Manual for Members'. Once activated member can log in to the UAN Member Portal by using his UAN as his user ID and password created by him.
UAN offers facilities like downloading Passbook; Download UAN Card; List Previous Member IDs; Enter KYC Details; Check eligibility for online transfer claims; and Edit personal details. More services are likely to be added in future if the need arises.
What is the ELI Scheme?
ELI scheme focuses on recognition of first-time employees, and support to employees and employers.
Three schemes are being implemented under ELI. Here are the benefits offered under ELI scheme, as per Finance Ministry:
Scheme: First Timers:
Under ELI, the government will provide one-month wage to all persons 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.
Finance Minister Nirmala Sitharaman last year in July said, the eligibility limit will be a salary of Rs 1 lakh per month. The scheme is expected to benefit 210 lakh youth.
Scheme B: Job Creation in manufacturing
Sitharaman highlighted that time this scheme will incentivize additional employment in the manufacturing sector, linked to the employment of first-time employees. An incentive will be provided at specified scale directly both to the employee and the employer with respect to their EPFO contribution in the first 4 years of employment.
The move is expected to benefit 30 lakh youth entering employment and their employers.
3. Scheme C: Support to employers:
This employer-focused scheme will cover additional employment in all sectors, said the Union Finance Minister. All additional employment within a salary of Rs 1 lakh per month will be counted. The Government will reimburse to employers up to Rs 3,000 per month for 2 years towards their EPFO contribution for each additional employee. As per Sitharaman, "The scheme is expected to incentivize additional employment of 50 lakh persons."
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