Employment Linked Incentive (ELI) Scheme
for more detail please visit : https://www.hkc.co.in/download/employment-linked-incentive-eli-scheme
1. The same scheme is only for first-time employment.
2. Only EPFO-registered employees become beneficiaries.
3. The Scheme will be valid only for the following period.
a. for employee only for one year
b. For Employer for two years (other than manufacture)
c. for the manufacturing industry, up to four years.
4. Up to 15000 max benefits will be given to employees of two parts in a year.
5. Up to six months of continued services of employees will be eligible for the first installment.
6. If any company has less than 50 employees, then a minimum two new appointments are required.
7. More than 50 employees: then five employees are required to be eligible for the scheme.
8. The ELI will be applicable for two years, from 1st August 2025 to 31st July 2027, and for manufacture up to July 2029.
9. Benefit given by DBT (Direct Bank Transfer) to employee's Aadhaar-linked UAN and bank account.
10. For Employer DBT with PAN link account with bank account linked with EPFO.
11. If employees change their services and continue employment in another establishment, then benefits will continue in the new company.
12. If the employer discontinues services before six months, then no benefit is given to the employer for the same scheme.
13. Employer separate registration is required for the same scheme, but till now no link has been provided by EPFO.
14. IF salary is less than 15000, then benefits will be given proportionately.
15. Employer benefits will be given as under:-
a. Up to 10000 salary per month, the benefit is up to 1000/- for two years.
b. 10000 to 20000 per month salaried employee: Rs. 2000 per month up to two years.
c. 20000 to 1 lakh per month salaried employee: Rs. 3000 per month up to two years
(and above, the same scheme is applicable for manufacturing industry upto four years.)
16. Requirement for Employees:
First Time UAN
Activation of UAN
Bank KYC of UAN
17. Requirement of Employers:—
Minimum employment of six months of an employee.
PF Membership to ane employee.
For a minimum of two joining of less than 50 employees, and for more than 50, five new joining are required.
18. Causation:-
Please note in the Press release that instructions are not given regarding the wrong benefit penalty.
What is the percentage of recovery of the amount?
What is the method of recovery of the amount?
What is the procedure of recovery of the amounts?
Who is responsible, employee or employer for getting wrong benefits?
19. Please note ABRY wrong beneficiaries company inspection still going on and employee's UAN stuck till date they can't withdrawal, transfer their funds.
20. Please register our establishment after your approval mail and we will charge additional monthwise of employee's add in scheme.
From India, Delhi
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72for more detail please visit : https://www.hkc.co.in/download/employment-linked-incentive-eli-scheme
1. The same scheme is only for first-time employment.
2. Only EPFO-registered employees become beneficiaries.
3. The Scheme will be valid only for the following period.
a. for employee only for one year
b. For Employer for two years (other than manufacture)
c. for the manufacturing industry, up to four years.
4. Up to 15000 max benefits will be given to employees of two parts in a year.
5. Up to six months of continued services of employees will be eligible for the first installment.
6. If any company has less than 50 employees, then a minimum two new appointments are required.
7. More than 50 employees: then five employees are required to be eligible for the scheme.
8. The ELI will be applicable for two years, from 1st August 2025 to 31st July 2027, and for manufacture up to July 2029.
9. Benefit given by DBT (Direct Bank Transfer) to employee's Aadhaar-linked UAN and bank account.
10. For Employer DBT with PAN link account with bank account linked with EPFO.
11. If employees change their services and continue employment in another establishment, then benefits will continue in the new company.
12. If the employer discontinues services before six months, then no benefit is given to the employer for the same scheme.
13. Employer separate registration is required for the same scheme, but till now no link has been provided by EPFO.
14. IF salary is less than 15000, then benefits will be given proportionately.
15. Employer benefits will be given as under:-
a. Up to 10000 salary per month, the benefit is up to 1000/- for two years.
b. 10000 to 20000 per month salaried employee: Rs. 2000 per month up to two years.
c. 20000 to 1 lakh per month salaried employee: Rs. 3000 per month up to two years
(and above, the same scheme is applicable for manufacturing industry upto four years.)
16. Requirement for Employees:
First Time UAN
Activation of UAN
Bank KYC of UAN
17. Requirement of Employers:—
Minimum employment of six months of an employee.
PF Membership to ane employee.
For a minimum of two joining of less than 50 employees, and for more than 50, five new joining are required.
18. Causation:-
Please note in the Press release that instructions are not given regarding the wrong benefit penalty.
What is the percentage of recovery of the amount?
What is the method of recovery of the amount?
What is the procedure of recovery of the amounts?
Who is responsible, employee or employer for getting wrong benefits?
19. Please note ABRY wrong beneficiaries company inspection still going on and employee's UAN stuck till date they can't withdrawal, transfer their funds.
20. Please register our establishment after your approval mail and we will charge additional monthwise of employee's add in scheme.
From India, Delhi
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The Employment Linked Incentive (ELI) Scheme is a government initiative aimed at encouraging employers to hire more employees by providing certain benefits. Here are some key points about the scheme:
1. It is applicable only for first-time employment and only EPFO-registered employees can become beneficiaries.
2. The scheme is valid for a specific period depending on the type of employer. For employees, it's only for one year; for employers, it's two years (other than manufacturing); and for the manufacturing industry, it's up to four years.
3. The benefits are transferred directly to the employee's Aadhaar-linked UAN and bank account.
4. If an employee changes jobs and continues employment in another establishment, the benefits will continue in the new company.
5. Employers need to register separately for the scheme. However, as of now, EPFO has not provided a link for this.
6. The benefits are given proportionately if the salary is less than 15000.
7. The requirements for employees include First Time UAN, Activation of UAN, and Bank KYC of UAN. For employers, the requirements include a minimum employment of six months of an employee, PF Membership to an employee, and a minimum of two joining of less than 50 employees, and for more than 50, five new joining are required.
Regarding the recovery of wrong benefits, the press release does not provide specific instructions. It is unclear what the percentage of recovery of the amount is, the method and procedure of recovery, and who is responsible for getting wrong benefits. It is advisable to seek legal advice or contact EPFO for more information on this matter.
Lastly, it's important to note that the inspection of ABRY wrong beneficiaries company is still ongoing and employees' UAN are stuck till date. They cannot withdraw or transfer their funds. After you receive approval, you can register your establishment and additional charges will apply for each employee added to the scheme.
From India, Gurugram
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1. It is applicable only for first-time employment and only EPFO-registered employees can become beneficiaries.
2. The scheme is valid for a specific period depending on the type of employer. For employees, it's only for one year; for employers, it's two years (other than manufacturing); and for the manufacturing industry, it's up to four years.
3. The benefits are transferred directly to the employee's Aadhaar-linked UAN and bank account.
4. If an employee changes jobs and continues employment in another establishment, the benefits will continue in the new company.
5. Employers need to register separately for the scheme. However, as of now, EPFO has not provided a link for this.
6. The benefits are given proportionately if the salary is less than 15000.
7. The requirements for employees include First Time UAN, Activation of UAN, and Bank KYC of UAN. For employers, the requirements include a minimum employment of six months of an employee, PF Membership to an employee, and a minimum of two joining of less than 50 employees, and for more than 50, five new joining are required.
Regarding the recovery of wrong benefits, the press release does not provide specific instructions. It is unclear what the percentage of recovery of the amount is, the method and procedure of recovery, and who is responsible for getting wrong benefits. It is advisable to seek legal advice or contact EPFO for more information on this matter.
Lastly, it's important to note that the inspection of ABRY wrong beneficiaries company is still ongoing and employees' UAN are stuck till date. They cannot withdraw or transfer their funds. After you receive approval, you can register your establishment and additional charges will apply for each employee added to the scheme.
From India, Gurugram
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Employees' Deposit Linked Ins Scheme 1976.pdf