EPFO adds 1.53 million net subscribers in January
23 Mar 2022
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The Employees Provident Fund Organisation (EPFO) has added 1.529 million net subscribers during January 2022 as per provisional payroll data released on 20 March 2022. Month-on-month comparison of payroll data indicates 2.69 lakh net subscriber additions in January 2022 as compared to the net additions during the previous month, ie, December 2021.
Of the total 1.529 million net subscribers added during the month, around 8.64 lakh new members have been registered under the social security ambit of EPF & MP Act, 1952 for the first time. Approximately 6.65 lakh net subscribers exited but re-joined EPFO by continuing their membership with EPFO instead of opting for final withdrawal. The payroll data also reflects a declining trend in the number of members exited since July 2021.
Age-wise comparison of payroll data shows that the age-group of 18-25 years has registered the highest number of net enrolments with 6.90 lakh additions during January 2022, which is around 45.11 per cent of total net subscriber additions during the month. This is followed by the age-group of 29-35 years, with a healthy addition of around 3.23 lakh net enrolments. This indicates that many first-time job seekers are joining organised sector workforce in large numbers and signifies a crucial stage for an individual’s potential in terms of earning capacity.
State-wise comparison of payroll figures highlights that the establishments covered in the states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are in lead by adding approximately 9.33 lakh subscribers during the month, which is around 61per cent of total net payroll addition across all age groups.
Gender-wise analysis indicates that net female payroll addition during the month is approximately 3.20 lakh. The share of female enrolment is approximately 21 per cent of the total net subscriber additions during January 2022 with an increase of 57,722 net enrolments over December 2021.
Industry-wise payroll data indicates that ‘expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc) constitutes 39.95 per cent of total subscriber addition during the month. In addition, growing trend in net payroll additions has been noted in industries like Expert Services, Engineering Contractors, Trading (Commercial Establishments) and Building and Construction industry etc.
The payroll data is provisional since the data generation is a continuous exercise, as updation of employee record is a continuous process. The previous data hence gets updated every month. From the month of April 2018, EPFO has been releasing payroll data covering the period September 2017 onwards.
EPFO is committed to extend social security benefits in the form of Provident, Pension and Insurance Funds to the organised workforce of the country covered under the aegis of Employees’ Provident Funds & Miscellaneous Provisions Act, 1952. With extensive use of social media nowadays, EPFO is also available on Twitter, WhatsApp and Facebook to help the subscribers and addressing their issues.
