EPFO Update: Major news for employees, date extended, complete this work by 15 February

Big news for government and non government employees. Especially if you are an EPFO member then today’s article is for you. The deadline for activating the Universal Account Number (UAN) and linking Aadhaar with bank accounts to access benefits under the Employment Linked Incentive (ELI) scheme has been extended once more. Employees now have until February 15, 2025, to complete this process.

To benefit from the ELI scheme, members of the Employees’ Provident Fund Organization (EPFO) must activate their UAN and link it to their bank accounts using Aadhaar. EPFO announced this extension on the social media platform X, urging employers to ensure compliance for the timely delivery of benefits to employees.

The ELI scheme, introduced by the central government in the Budget 2024, encompasses three components: A, B, and C. The primary goal of these initiatives is to foster job creation and provide financial support to new employees.

All EPFO subscribers are required to have their UAN linked to Aadhaar, which must be activated by creating a login on the member portal to access various services seamlessly. The budget for the financial year 2024-25 outlined these three schemes under the ELI, with the overarching aim of boosting employment opportunities for both employees and employers.

The initiative seeks to create employment, enhance skills, and provide opportunities for 41 million youth over five years, with an investment of Rs 2 lakh crore. The ELI scheme aims to generate over 20 million jobs within two years. Under this program, first-time employees will receive a salary of up to Rs 15,000 in three installments, which will be directly deposited into their Aadhaar-linked bank accounts.

In this program, both employers and new hires will receive benefits for their EPFO contributions over a span of four years. The government will provide employers with Rs 3,000 each month for every new employee they bring on board, and this support will last for two years. This initiative will encourage employers to hire more staff, and employees earning up to Rs 1 lakh can also benefit from it.

To activate your UAN number, follow these steps:

1. Visit the EPFO website at epfindia.gov.in.
2. Click on “For Employees” in the Services section.
3. Select “Member UAN Online Service OCS OTCP,” which is the second option in the Services column.
4. Next, click on “Activate UAN.”
5. Fill in your 12-digit UAN, Aadhaar number, name, date of birth, mobile number linked to Aadhaar, captcha code, and other required details.
6. Check the declaration box below.
7. Hit the “Get Authorization Pin” button.
8. Enter the OTP you receive and click on the submit button.

That’s it! Your UAN is now activated.