NE NEWS SERVICE
NEW DELHI, DEC 20
Employees’ Provident Fund Organisation (EPFO) added 12.73 lakh net subscribers in October this year, an increase of 10.22% beneficiaries compared to the same month last year.
A statement issued by the labour ministry notified on Monday, “The provisional payroll data of EPFO released on 20th December 2021 highlights that EPFO has added 12.73 lakh net subscribers during the month of October 2021.”
EPFO adds 12.73 lakh net subscribers in October 2021 with 7.57 lakh New Members. 46.12% from 18-25 age group. Year-on-year growth of net subscribers 10.22%.
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— EPFO (@socialepfo) December 20, 2021
Year-on-year comparison shows an increase of around 10.22% in net payroll additions in October, 2021 as compared to 11.55 lakh net subscribers added during October 2020, it added.
“Of the total 12.73 lakh net subscribers added, 7.57 lakh new members have been enrolled under EPF & MP Act, 1952 for the first time. Approximately 5.16 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”
The age-group of 22-25 years has registered the highest number of net enrolments with 3.37 lakh additions during October, 2021. Age-group of 18-21 also registered a healthy addition of around 2.50 lakh net enrolments. Age-groups of 18-25 years have contributed around 46.12 per cent of total net subscriber additions in October, 2021. Members of these age-groups are usually fresh hands in the job market and signifies a crucial stage for an individual’s potential in terms of earning capacity.
The establishments covered in the states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are in lead by adding approximately 7.72 lakh subscribers during the month, which is around 60.64 per cent of total net payroll addition across all age groups.
