The Employees’ Provident Fund Organization (EPFO) has extended the deadline to activate your Universal Account Number (UAN) and link it with Aadhaar to December 15, 2024. This update is tied to the Employment Incentive Scheme (ELI), a key initiative aimed at fostering formal job creation and easing financial strain on employers.
Key Highlights of the ELI Program:
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Salary Support for Employees:
- First-time formal sector employees earning up to Rs 1 lakh per month can receive Rs 15,000 in three salary installments.
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Subsidized Contributions:
- EPFO contributions from both employees and employers are subsidized for the first four years in the manufacturing sector.
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Employer Incentives:
- Employers hiring new employees (earning up to Rs 1 lakh monthly) are eligible for reimbursements of up to Rs 3,000 per employee for two years.
Why is UAN Activation and Aadhaar Linking Essential?
Employers must activate UAN and link Aadhaar for all employees to ensure they can access the benefits of the ELI scheme. This process is particularly critical for new hires, enabling them to claim financial incentives under the program.
The extended deadline offers a final opportunity to comply and unlock these benefits, which are expected to create 2 crore new jobs and boost the economy. Don’t wait—complete the process before December 15 to secure these advantages!
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