New Delhi Feb 21 :- The Employees’ Provident Fund Organisation (EPFO) added 14.6 lakh subscribers on a net basis in December 2021, an increase of 16.4 per cent compared to the year-ago period, according to the latest payroll data.
The provisional payroll data of Employees’ Provident Fund Organisation (EPFO) released on Sunday showed that the EPFO had added 12.54 lakh net subscribers during December 2020. The net subscriber addition in December has increased by 19.98 per cent as compared to November 2021, a Labour Ministry statement said. The net subscriber addition in November 2021 was revised downwards to 12.17 lakh from 13.95 lakh provisional estimates released in January 2022. Of the total 14.60 lakh net subscribers added in December, 2021, 9.11 lakh new members have been enrolled under EPF & MP Act, 1952 for the first time.
Approximately 5.49 lakh net subscribers exited but rejoined EPFO by opting to continue their membership with EPFO by transferring their PF accumulations from previous to present PF account instead of opting for final withdrawal. Further, it stated that the number of members exiting EPFO has been on a declining trend since July, 2021.
The age-group of 22-25 years registered the highest number of net enrolments with 3.87 lakh additions during December 2021. The age-group of 18-21 also registered a healthy addition of around 2.97 lakh net enrolments
According to the data, the age-group of 22-25 years registered the highest number of net enrolments with 3.87 lakh additions during December 2021. The age-group of 18-21 also registered a healthy addition of around 2.97 lakh net enrolments. The age-groups of 18-25 years have contributed around 46.89 per cent of total net subscriber additions in December, 2021. This indicates that many first-time job seekers are joining the organised sector workforce in large numbers. A state-wise comparison of payroll figures highlighted that the establishments in Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are in lead by adding approximately 8.97 lakh subscribers during the month.
