Employees’ Provident Fund Organisation (EPFO) has once again extended the deadline for linking Aadhaar to bank accounts for beneficiaries of the Employment Linked Incentive (ELI) scheme.
The new deadline, set for June 30, 2025, aims to ensure that all eligible employees can access financial benefits under the scheme.
This extension follows multiple deadline shifts since the initial cutoff date of November 30, 2024.
The EPFO has urged employers to complete the Aadhaar seeding process for all employees who joined in the current financial year, ensuring seamless Direct Benefit Transfers (DBT).
What is the ELI Scheme?
The Employment Linked Incentive (ELI) scheme was introduced in the Union Budget 2024-25 to promote formal employment and encourage companies to hire new workers.
The scheme provides financial incentives to both employers and employees, supporting job creation in manufacturing and other sectors.
The ELI scheme is divided into two categories:
- Scheme A: Targets first-time employees entering the workforce, with salaries below ₹1 lakh per month.
- Scheme B: Focuses on job creation in manufacturing, incentivizing companies to expand their workforce.
Eligible employees receive subsidies in three installments, making Aadhaar linking essential for accessing these benefits.
EPFO Update: Why is Aadhaar Seeding Mandatory?
The Aadhaar-bank account linking is a crucial step for ELI scheme beneficiaries, as it ensures secure and direct fund transfers.
Without Aadhaar seeding, employees may face delays in receiving financial incentives and restricted access to EPFO services.
The EPFO has emphasized that Aadhaar linking helps:
- Prevent duplicate accounts and discrepancies in employee records.
- Enable seamless transactions, including claim settlements, PF transfers, and withdrawals.
- Ensure transparency in fund disbursement under the ELI scheme.
How to Link Aadhaar with a Bank Account?
Employees can complete the Aadhaar seeding process through the EPFO Member Sewa portal by following these steps:
- Visit the EPFO Member Portal and click on ‘Activate UAN’ under the ‘Important Links’ section.
- Enter required details, including UAN, Aadhaar number, date of birth, and registered phone number.
- Verify using OTP sent to the Aadhaar-linked mobile number.
- Confirm Aadhaar seeding to complete the process.
Alternatively, employees can link Aadhaar through the Umang app or by visiting the nearest Common Service Centre (CSC).
Impact of the Deadline Extension
The latest extension provides additional time for employees and employers to complete the Aadhaar linking process.
However, EPFO has warned that failure to meet the June 30 deadline could result in:
- Frozen EPF accounts, restricting withdrawals and transfers.
- Delays in receiving financial benefits under the ELI scheme.
- Employer contribution issues, affecting long-term retirement savings.
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