The Employees’ Provident Fund Organisation (EPFO) offers a beneficial scheme that many employees may not be aware of. Through this scheme, employees can receive financial benefits directly in their bank accounts. Here’s what you need to know about this scheme.

What is the ELI Scheme?

The ELI scheme is the Employment Linked Incentive (ELI) scheme, which was launched by the government in the 2024 budget. The goal of this scheme is to provide financial assistance to individuals who are starting new jobs. It aims to support new employees by offering incentives directly to their bank accounts.

How Does This Scheme Work?

Under this scheme, the government transfers money directly to employees’ bank accounts using the Direct Benefit Transfer (DBT) system. The funds are distributed in three installments based on the employee’s salary. This makes it easier for employees to receive the financial assistance they need.

What Are the Benefits of the EPFO Scheme?

The EPFO’s ELI scheme offers employees financial benefits of up to Rs 15,000. The amount is given in three separate installments, providing employees with substantial financial support. This scheme helps reduce the financial burden on new employees by offering direct assistance.

How to Avail the EPFO Scheme?

To avail of the benefits of the ELI scheme, employees must have an active Universal Account Number (UAN) and ensure that their Aadhaar is linked to their bank account. Below is a step-by-step guide to activating your UAN:

How to Activate Your UAN?

  1. Visit the EPFO Website: Go to the official EPFO website at epfindia.gov.in.
  2. Select ‘For Employees’: Under the ‘Services’ section on the left side of the page, click on ‘For Employees’.
  3. Click on ‘Member UAN Online Services’: In the ‘Services’ section, click on ‘Member UAN Online Services (OCS/OTCP)’.
  4. Click on ‘Activate UAN’: On the page, click the ‘Activate UAN’ button.
  5. Fill in the Required Information: Enter your 12-digit UAN number, Aadhaar number, name, date of birth, Aadhaar-linked mobile number, and the captcha code.
  6. Get Authorization PIN: After filling out the details, check the box and click ‘Get Authorization PIN. ’
  7. Enter OTP: You will receive an OTP on your registered mobile number. Enter the OTP and click ‘Submit. ’
  8. After completing these steps, your UAN will be activated, and you will be able to benefit from the scheme.

In Conclusion, we can say the EPFO’s ELI scheme provides a great opportunity for employees, particularly those who have recently joined the workforce, to receive financial assistance. By activating your UAN and linking it with your Aadhaar and bank account, you can receive up to Rs 15,000 in three installments. Don’t miss out on this valuable support!