Activate UAN to avail EPFO ELI scheme benefits before February 15 Check details
The Employees’ Provident Fund Organisation (EPFO) has announced the extension of the deadline to activate the Universal Account Number (UAN) from January 15 to February 15.
The EPFO mentioned in its circular dated February 2, 2025, “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.”
The activation of UAN and linking the bank account with Aadhaar is essential for availing benefits under the EPFO’s Employment Linked Incentive (ELI) Scheme.
WHAT IS UAN?
UAN or Universal Account Number is a unique 12-digit number allotted by the EPFO which is necessary for managing provident fund accounts. It links all EPF accounts from different employers into one account and helps in the easy transfer of funds when switching jobs.
The UAN also enhances security by protecting both account information and transactions through secure authentication. Moreover, it helps in streamlining the retirement savings process for employees as it does away with the hassle of consolidating multiple PF accounts created under various employers.
The documents required to generate a UAN include PAN Card, Aadhaar card, identity proof (passport, voter ID, driving licence, etc.), address proof and bank account details, etc.
UNDERSTANDING ELI SCHEME
Employee Linked Incentive (ELI) schemes, introduced in Budget 2024, aims to boost employment in the formal sector and offers benefits to both employers and first-time employees. To seek benefits, one must enrol with the EPFO.
Currently, there are three Employee Linked Incentive (ELI) schemes. Scheme A caters to first-time employees, Scheme B is for the manufacturing sector, while Scheme C aims to provide support to employers.
