Want ELI scheme benefits? Make sure your UAN and Aadhaar are linked by this date
The Employees' Provident Fund Organisation (EPFO) has announced an extension of the deadline for Universal Account Number (UAN) activation and Aadhaar linking with bank accounts until June 30, 2025. This extension is crucial for employees aiming to benefit from the Employment Linked Incentive (ELI) scheme.WHAT'S THE ELI SCHEME ALL ABOUT?The ELI scheme was announced during the Union Budget 2024–25. It's an ambitious government initiative designed to generate over two crore jobs in the country within two years.advertisementThe scheme aims to provide financial incentives to both companies and employees, encouraging businesses to hire new staff and integrate them into a formal work environment.
Furthermore, it seeks to enhance the skill set of the workforce, thereby increasing the employability of the youth.The scheme includes three major programmes aimed at helping both employers and employees. It's also part of a larger package meant to provide jobs, training, and support to around 4.1 crore young people in India over the next five years. The government has set aside Rs 2 lakh crore for this.IMPORTANCE OF UAN ACTIVATION AND AADHAAR LINKINGActivating the UAN is essential for utilising the EPFO's online facilities, which include checking the provident fund balance, transferring funds, and downloading passbooks.Additionally, Aadhaar linking is required to ensure that the provident fund amount is credited directly to the employee's bank account.ORIGINAL DEADLINE AND MULTIPLE EXTENSIONSadvertisementInitially, the deadline for UAN activation and Aadhaar linking was set for November 30, 2024. However, this date has been extended multiple times to accommodate employees and ensure maximum participation in the ELI scheme.The decision to extend the timeline reflects the government's commitment to increasing employment opportunities and enhancing livelihoods across the nation. This extension also allows more time for employees to comply with the requirements, ensuring that no one is left behind.UPCOMING EPFO 3.0 PLATFORMThe EPFO is on the verge of launching EPFO 3.0, a new platform aimed at enhancing the user experience with improved accessibility and services.The new platform promises features akin to banking services, such as ATM PF withdrawals and faster claim processing. Additionally, the EPFO is working on upgrading its grievance mechanism, introducing a more efficient grievance portal to address member concerns swiftly. This initiative is expected to streamline operations and make the EPFO's services more user-friendly, thus facilitating better service delivery.Must Watch
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