The Employees’ Provident Fund Organization (EPFO) has extended the deadline for linking the Universal Account Number (UAN) with the Employee Linked Incentive (ELI) scheme. Initially set for November 30, the deadline has now been pushed to December 15, 2024, providing additional time for employers and employees.
Key Announcement by EPFO
Through a post on social media platform X, EPFO urged employers to complete UAN activation and Aadhaar linking for all employees hired in the current financial year to enable them to benefit from the Employment Linked Incentive Scheme.
What is the ELI Scheme?
The Employment Linked Incentive (ELI) Scheme aims to:
- Encourage Employment: Employers receive financial incentives for hiring new employees, promoting job creation.
- Support Youth Employment: Young workers entering the workforce for the first time benefit from opportunities.
- Drive Economic Growth: Incentives like tax exemptions, salary support, or training funds help companies hire more workers.
How This Extension Helps
The 15-day extension comes amidst delays in detailed announcements regarding the ELI Scheme. It allows more time for employers to comply and ensures employees can avail the associated benefits.
Take Action Now!
Employers and employees should act promptly to meet the December 15 deadline, ensuring access to the ELI benefits and compliance with EPFO guidelines.
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