To avail of the government’s employment-linked incentive (ELI) scheme, it is mandatory for members of the Employees’ Provident Fund Organisation (EPFO) to activate their Universal Account Number (UAN) and link their Aadhaar to their bank accounts. EPFO members, especially new employees, have only one day left to complete this process. If you have recently started working with a company, ensure your UAN is activated by the 15th of January 2025. Additionally, linking Aadhaar with your bank account is also mandortory.
The EPFO had earlier extended the deadline for UAN activation and Aadhaar-bank linking to 15 January 2025. Initially, the last date was 30 November 2024, which was later pushed to 15 December 2024 before the most recent extension.
What is the ELI Scheme?
The Government of India introduced the ELI scheme in Budget 2024. The scheme comprises three types (A, B and C), aimed at promoting employment and providing financial support to new employees.
Steps to Activate UAN:
1. Visit EPFO’s official website i.e epfindia.gov.in.2. Click on the “For Employees” option on the left side of the homepage.3. Under the Service column, click on “Member UAN Online Service (OCS/OTCP).”4. Select the Activate UAN option.5. Enter your 12-digit UAN, Aadhaar number, name, date of birth, mobile number linked to Aadhaar, Captcha code, etc.6. Tick the declaration checkbox.7. Click the Get Authorization Pin button.8. Enter the OTP received on your mobile and click Submit.9. Your UAN will now be activated.
EPFO to Introduce Self-Certification for KYC
The Employees’ Provident Fund Organisation (EPFO) is set to launch a self-certification facility for its members’ KYC (Know Your Customer) process. This decision will benefit 8 crore active members by eliminating the need for employer approval to complete the KYC process.
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KYC is a one-time process that links a member’s Universal Account Number (UAN) to their KYC details, helping verify their identity. Currently, employer approval is required to complete the KYC process.
This new facility will simplify the process for members, as obtaining employer approval often leads to significant delays. In some cases, if a company shuts down, members are unable to secure approval. The new system will eliminate paperwork and reduce claim rejection rates.