The Employee Provident Fund Organization (EPFO) has extended the deadline for activating Universal Activation Number (UAN) and linking bank account with Aadhaar to January 15, 2025.
The original deadline for UAN activation was November 30, 2024, which was later extended to December 15, 2024.
“See the cited circulars. In this regard, the competent authority has allowed extension of timeline from 15.12.2024 to 15.01.2025 for UAN activation and Aadhaar seeding in the bank account of all employees,” EPFO said in a circular released on December 20, 2024.
Why is UAN activation important?
A UAN is a twelve-digit number that helps manage provident fund accounts. UAN activation and linking a bank account with an Aadhaar are mandatory to avail the benefits of EPFO’s Employment Linked Incentive (ELI) Scheme.
“It is mandatory to link your Aadhaar with your bank account to avail the benefits of the Employment Linked Incentive (ELI) Scheme, an employment-oriented scheme aimed at creating jobs in the country. Do it on time to avoid last-minute hassle!” the official handle of EPFO posted on X.
How to activate EPF UAN?
Step 1: Go to the official website of EPF; www.epfindia.gov.in
Step 2: Click on ‘Our Services’ and click on ‘For employees’
Step 3: Select ‘Member UAN/Online Services’
Step 4: Choose ‘Activate your UAN’ (under ‘Important links’ on the right)
Step 5: Fill in your basic details such as UAN, Name, Date of Birth, Mobile Number and captcha and click on ‘Get Authorization pin’. Then an OTP is sent to the registered mobile number.
Step 6: Select ‘I agree’ and enter the OTP
Step 7: Click on ‘Validate OTP and activate UAN’
What is the ELI scheme?
Finance Minister Nirmala Sitharaman introduced the ELI scheme in Budget 2024. It is of three types: A, B and C. It aims to provide benefits to new employees, create manufacturing jobs and support employers.
What are the features of the ELI scheme?
A: New employees
Under this scheme, one month’s salary is awarded to all new entrants to the labor market in all formal sectors. The direct payment of one month’s salary in 3 installments to starters, as registered in the EPFO, will amount to € 15,000, according to the budget documents.
B: Creating jobs in the manufacturing sector
The scheme is intended to stimulate additional employment in the manufacturing sector, which is linked to the employment of new workers. An incentive on a specified scale is provided directly to the employee and the employer in respect of their EPFO contribution in the first four years of their employment.
C: Support for employers
The government will reimburse employers up to Rs 3,000 per month for two years for their EPFO contribution for each additional employee.
However, it should be noted that the government has not yet announced the implementation start date, the scheme or other details.
