PF News: EPFO members will have to do Aadhaar-based verification to keep their Universal Account Number (UAN) active. The Ministry of Labor and Employment has issued instructions to employers (companies and firms) regarding this.
Members of the Employees’ Provident Fund Organization (EPFO) will have to do Aadhaar-based verification to keep their Universal Account Number (UAN) active. Regarding this, the Ministry of Labor and Employment has issued instructions to employers (companies and firms). Under this, all UANs will have to be verified with the One Time Password (OTP) received on the mobile number linked with the Aadhaar number, so that EPFO members can get the benefits of government-run schemes.
In the first phase, employers will have to complete the process of UAN activation through Aadhaar-based OTP for all their employees in the current financial year by November 30. After that, the verification process will have to be completed for all other employees as well. UAN activation will make it easier for employees to take advantage of EPFO’s extensive online services, allowing them to get all the information about their Provident Fund (PF) account.
Employees will get these benefits
The new system will make login easy. It will also help in viewing and downloading PF passbook, submitting online claims for withdrawal, advance and transfer. It will also be easy to update personal details and track claims. This will save employees from having to run around EPFO offices. On the other hand, in the second phase, biometric authentication will be adopted through facial recognition technology along with UAN activation.
Activate UAN number like this
-First go to the EPFO portal (https://www.epfindia.gov.in/). Click on the Activate UAN link under Important Links.
-Enter UAN, Aadhaar number, name, date of birth and mobile number linked with Aadhaar.
– Employees have to ensure that their mobile number is linked with Aadhaar.
– After that agree to Aadhaar OTP verification.
– Click on Get Verification PIN to receive OTP on your Aadhaar linked mobile number.
– Enter the OTP to complete the activation.
– On successful activation a password will be sent to your registered mobile number.
Activism is necessary for ELI scheme
In the Union Budget 2024-25, the government had announced the Employment Linked Incentive (ELI) scheme. To ensure that maximum employers and employees can avail the benefits of the scheme, the ministry has directed the EPFO to run a campaign in collaboration with employers, under which activation of the Universal Account Number of employees will be ensured.
Three types of help will be available under ELI scheme
1. First-time job holders will be given Rs 15,000 in three installments directly into their accounts. To be eligible, their monthly salary should be up to Rs 1 lakh. About two crore youth are expected to benefit from the scheme.
2. On employment generation in the manufacturing sector, employees and employers will get financial assistance related to contributions during the first four years of employment. This is expected to benefit about 30 lakh young workers and their employers.
3. For every new employee earning less than Rs 1 lakh per month for new jobs, the government will reimburse the employer their EPFO contribution up to Rs 3,000 per month for two years. This is expected to create 50 lakh additional jobs.
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