EPFO has actually expanded the target date for UAN activation and seeding checking account with Aadhaar for availing the advantages under ELI system till Dec 15. Earlier the target date was Nov 30. In the current round outdated December 4, Employees Provident Fund Organisation has actually provided instructions to all companies that the earlier round stands changed.
Extension of timeline
“The competent authority has granted an extension of timeline from Nov 30th to Dec 15th for UAN activation and Aadhaar seeding in bank accounts for all the employees,” checks out the round.
Earlier round
Notably, the earlier round dated Nov 22, 2024, which had actually established the target date of Nov 30, highlighted that UAN activation and Aadhaar seeding in checking account of each staff member are necessary for availing the advantages of the Employment Linked Incentive Scheme introduced in the Union Budget 2024-25.
The earlier round had actually additionally pointed out that every customer of EPFO is needed to have an Aadhaar- connected Universal Account Number which requires to be triggered by developing a login on the participant site for availing a variety of centers via a solitary home window.
These centers consist of the capacity to check out and download and install PF passbooks, send on-line insurance claims for withdrawals, developments or transfers, upgrade individual information and track the condition of insurance claims in actual time.
Besides, to obtain the advantages of any kind of straight advantage transfer (DBT) system, the checking account of the recipient is intended to be seeded with Aadhaar to make sure that the advantages can be straight moved to the recipient’s checking account, the round had actually pointed out.
In various other information, EPFO’s Central Board of Trustees (CBT) took a variety of vital choices onSaturday These choices consist of moving the rate of interest to clients upto the day of negotiation unlike earlier when rate of interest was paid just upto completion of the coming before month.
Additionally, interest-bearing insurance claims which were earlier not refined in between the 25th and completion of every month will certainly currently be refined for the whole month causing minimized pendency and prompt negotiation.
The board additionally provided standards for financial investment in Units provided by Public Sector Undertaking- funded Infrastructure Investment Trusts (In vITs) and Real Estate Investment Trusts (REITs).
