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In July, member who have joined EPFO for the first time has increased by 6%.
New Delhi: Employees’ Provident Funds Organization (EPFO) on Monday released its provisional payroll data for July, mentioning that it has added around 14.65 lakh net subscribers in the month. The retirement fund body highlighted a growing in net payroll additions for last four months. During July this year, the net subscriber addition has increased by 31.28% as compared to June 2021 when the total additions were 11.16 lakh. Of the total 14.65 lakh net subscribers added in July, around 9.02 lakh new members have come under the social security umbrella of EPFO for the first time, a notification released by Ministry of Labour & Employment stated.
The notification also said that around 5.63 lakh net subscribers exited but rejoined EPFO by changing jobs within the establishments covered by EPFO, showing that majority of subscribers opted to continue their membership with EPFO rather than applying for final withdrawal.
In July, those who have joined EPFO for the first time has increased by 6%, members who re-joined has increased by around 9% while members who exited have decreased by 36.84% as compared with previous month, it added.
EPFO said, the age-group of 22-25 years has registered highest number of net enrolments with 3.88 lakh additions in July this year. This is followed by age-group of 18-21 with around 3.27 lakh net enrolments, indicating that many first-time job seekers are joining organized sector workforce in large numbers and have contributed around 48.82% of total net subscriber additions during the month.
Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are in lead by adding approximately 9.17 lakh subscribers during the month, which is around 62.62% of total net payroll addition, it further stated.
According to the EPFO data, female enrolment stood at 20.56% of the total net subscriber addition in July. The net addition of female subscriber increased to 3.01 lakh during July 2021 as compared to 2.18 lakh in June, 2021.
‘Expert services’ category constituted 41.62% of the total subscriber addition during the month. Apart from this, growing trend in net payroll additions has been noted in industries like trading-commercial establishments, engineering products, building & construction, textiles, garment making, hospitals and financing establishments.
