UAN Activation: The Employees’ Provident Fund Organisation (EPFO) has made another significant decision. The Central Government’s Employment Linked Incentive (ELI) program has provided another chance for all qualified employees to access the benefits. New Delhi: The authorities have declared an extension of the deadline for connecting Aadhaar with bank accounts, including UAN activation, essential for receiving advantages from the ELI scheme. The UAN activation deadline originally set to end on November 30, 2024, has now been extended to December 15, 2024. Following the expiration of the deadline, the government has once more extended it to January 15, 2025, providing another opportunity.
Activation of UAN
Activation of UAN and the connection of Aadhaar with a bank account are essential for receiving financial benefits from the Employment Linked Incentive (ELI) scheme introduced by the central government. The ELI incentives are offered by the Centre under the supervision of the EPFO. Finance Minister Nirmala Sitharaman revealed three categories of ELI schemes (A, B, C) in the Union Budget 2024, which was presented in July this year. The EPFO previously urged company managements to guarantee UAN activation to offer scheme benefits to qualified beneficiaries. It has been reported that the deadline has been prolonged again after discovering that numerous individuals have not activated their UAN.
Know about ELI schemes
Among the three ELI schemes introduced by the central government, Scheme-A is designed for employees, through which newcomers will be recognized using EPFO accounts and provided with one month’s pay as a reward. A total of Rs 15,000 will be credited to the employees’ accounts in three separate installments. Employees earning a highest salary of up to Rs 1 lakh monthly qualify.
Rs 15,000 will be credited
Among the three ELI programs initiated by the central government, Scheme-A targets employees, whereby first-time entrants will be recognized using EPFO accounts and awarded one month’s salary as a bonus. A total of Rs 15,000 will be credited to the employees’ accounts in three separate installments. Employees earning a maximum wage of up to Rs 1 lakh monthly qualify.