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For the EPFO’s Employment Linked Incentive Scheme to provide rewards, bank accounts must be linked to Aadhaar and UANs must be activated.
EPFO
The deadline for linking your bank account with Aadhaar and activating your Universal Account Number (UAN) has been extended to Saturday, February 15, 2025, by the Employees’ Provident Fund Organisation (EPFO). The EPFO’s Employment Linked Incentive (ELI) Scheme requires the activation of a UAN and the linkage of bank accounts with Aadhaar to receive benefits.
“Please refer to the circulars mentioned under references. In this connection, the competent authority has granted an extension of the timeline for UAN activation and Aadhaar seeding in bank accounts till 15th February 2025,” in a February 2, 2025, EPFO circular, the Ministry of Labour and Employment stated.
Universal Activation Number (UAN): What Is It And Why It Is Important
An important 12-digit identification number for administering provident fund accounts is the Universal Activation Number (UAN). It offers a single platform for employees to track funds, access them, and streamline financial activities.
Once their UAN has been activated, employees can readily access EPFO’s wide range of online services, such as managing their PF accounts, viewing and downloading PF passbooks, submitting online claims for advances, withdrawals, or transfers, updating personal information, and real-time claim monitoring.
Employment Linked Incentive (ELI) Scheme: Know More About It
The Employment Linked Incentive (ELI) Scheme is a government initiative that offers financial incentives to companies and new workers to boost the number of employment created in the formal sector.
In the Union Budget 2024, the central government unveiled three ELI programs (A, B, and C). As long as the beneficiary’s bank account is connected to Aadhaar, the benefits of the scheme are intended to be paid out via Direct Benefit Transfer (DBT).
What Are The ELI Schemes (A, B, and C)?
Scheme A: providing new employees with direct financial aid in the form of installments equal to one month’s wage.
Scheme B: Rewards for manufacturing companies that bring on new employees.
Scheme C: Assistance for companies in all industries that add new jobs.
Here’s How To Activate EPF UAN Via Aadhaar-Based OTP
Step 1: Go to the EPFO member portal.
Step 2: Under “Important Links,” select the “Activate UAN” option.
Step 3: Key in your name, DOB, Aadhaar-linked mobile number, UAN, and Aadhaar number.
Step 4: To utilise all of EPFO’s digital services, staff members should make sure their mobile number is connected to Aadhaar.
Step 5: Accept the verification of your Aadhaar OTP
Step 6: To get an OTP on your Aadhaar-linked phone number, click “Get Authorisation PIN.”
Step 7: To complete the activation, enter the OTP.
It is crucial to note that a password will be given to your registered mobile number following successful activation.
