The Employees Provident Fund Organization (EPFO) has issued a crucial circular on December 20th 2024 to all employers of establishments covered under its purview. The circular extends the deadline for two significant processes – UAN (Universal Account Number) activation and seeding of bank accounts with Aadhaar – which are essential for employees to avail the benefits under the Employees’ Life Insurance (ELI) scheme.
Originally set for December 15, 2024, the deadline has now been pushed forward to January 15, 2025. This extension comes as a relief to both employers and employees, providing additional time to ensure compliance with the requirements for the ELI benefits.
Key Highlights of the Extension:
- New Deadline: The timeline for UAN activation and bank account seeding with Aadhaar has been extended until January 15, 2025.
- Targeted Process: This extension specifically applies to ensuring that employees have their UAN activated and their bank accounts linked to Aadhaar, which are mandatory to avail of the Employees’ Life Insurance (ELI) benefits.
- Importance of Compliance: Employers are urged to ensure that these processes are completed within the extended timeframe to avoid delays in employees receiving their benefits.
