Ministry directs EPFO to ensure UAN activation for employees through Aadhaar-based OTP
India's Labour Ministry Pushes for UAN Activation to Boost Employment Benefits
The Ministry of Labour and Employment in India has instructed the Employees' Provident Fund Organisation (EPFO) to ensure the activation of the Universal Account Number (UAN) for employees. This initiative is part of the Union Budget 2024-25 announcements to maximize the reach of the Employment Linked Incentive (ELI) Scheme. The EPFO will engage its zonal and regional offices to effectively reach out to employers.
The government has mandated the use of Aadhaar for subsidy and incentive payments, ensuring 100% biometric Aadhaar authentication. This simplifies processes, enhances transparency, and ensures beneficiaries receive their entitlements without hassle. Aadhaar-based verification reduces the need for multiple identity documents.
Employers must activate UANs using Aadhaar-based OTP for new employees by November 30, 2024, and subsequently for all employees. UAN activation allows employees to access EPFO's online services, manage Provident Fund accounts, view passbooks, submit claims, update details, and track claims from home.
The government plans to implement three schemes under the ELI Scheme, focusing on first-time employees and support for employees and employers. The ELI Scheme aims to create over 2 crore jobs in two years, boosting employment and livelihoods.
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Labour Ministry
The Labour Ministry is a part of the Indian government that looks after the rights and welfare of workers and employees in the country.
UAN
UAN stands for Universal Account Number. It is a unique number given to each employee in India to manage their Provident Fund accounts easily.
EPFO
EPFO stands for Employees' Provident Fund Organisation. It is a government body in India that helps manage the savings and retirement funds of employees.
Union Budget 2024-25
The Union Budget is a financial plan presented by the Indian government every year, detailing how it will spend money and collect taxes for the upcoming year. The 2024-25 budget is for that specific year.
Aadhaar-based OTP
Aadhaar-based OTP is a one-time password sent to your mobile number linked with your Aadhaar card, used for verifying your identity online.
ELI Scheme
The Employment Linked Incentive (ELI) Scheme is a government program in India designed to encourage companies to hire more people by offering them benefits.
Prime Minister's package
This refers to a set of initiatives or programs announced by the Prime Minister of India to address specific issues, like creating jobs in this case.
2 crore jobs
2 crore jobs mean 20 million jobs. The government aims to create this many jobs to help more people find work.
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