UAN generation made easier, PF transfers will be faster; find out which employees can avail this benefit
Suspense Crime, Digital Desk : Simpler UAN generation, faster PF transfers to follow; see what employees are eligible. Employees' Provident Fund Organisation (EPFO) has released a significant update on its official social media handle 'X', offering relief to millions of employees and institutions. The EPFO has issued a vital notice related to the Central government's ambitious project, "Pradhan Mantri Vikas Bharat Rojgar Yojana". Via its social media accounts, EPFO has clarified the eligibility criteria, based on which the working youth in India would be eligible for financial aid under this scheme. The ultimate goal of this project is to promote job creation in India and facilitate employers and employees withEPFcontribution cost benefits. The employees to be benefited The eligibility conditions that the beneficiaries have to meet for availing the benefit, as shared by the EPFO, are: 1. New Employees: The focus will be on young workers entering the formal employment for the first time. 2. Limit of Monthly Salary: Only those workers with monthly income falling within a prescribed limit defined by the scheme would be eligible to benefit from it. 3. UAN Registration: It will be required for all the beneficiaries to have a Unique Account Number (UAN) linked to the Aadhaar number. An important initiative of the govt to boost jobs Experts are of the opinion that "Prime Minister's Development India Employment Scheme" would help new job openings and employers who are hiring fresh employees. This initiative could cover part of the PF contribution, leading to higher take-home pay.
