Home » National » EPFO adds 14.65 lakh net subscribers in July, an increase of 31.28% over June

EPFO adds 14.65 lakh net subscribers in July, an increase of 31.28% over June

Newdelhi:20/9/21:The provisional payroll data of EPFO published on 20th September 2021 reveals that EPFO has added around 14.65 lakh net subscribers during July 2021. The data highlights a growing trend in net payroll additions for the last four months. For the month of July 2021, the net subscriber addition has increased by 31.28% as compared to the previous month of June 2021 when the total additions were 11.16 lakh.

Of the total 14.65 lakh net subscribers, around 9.02 lakh new members have come under the social security umbrella of EPFO for the first time. Around 5.63 lakh net subscribers excited but rejoined EPFO by changing jobs within the establishments covered by EPFO. This shows that the majority of subscribers opted to continue their membership with EPFO, by transferring their past accumulations from their previous job to the current PF account rather than applying for final withdrawal.

Data also reflects that during July 2021, the number of members who have joined EPFO for the first time has increased by 6%, members who re-joining have increased by around 9% while members who exited have decreased by 36.84 % as compared with the previous month.

Age-wise comparison of payroll data shows that the age group of 22-25 years has registered the highest number of net enrolments with 3.88 lakh additions during the month of July 2021. This is followed by the age group of 18-21 with around 3.27 lakh net enrolments. This indicates many first-time job seekers are joining organised sector workforce in large numbers and have contributed around 48.82 % of total net subscriber additions in July 2021.

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 9.17 lakh subscribers during the month, which is around 62.62 % of total net payroll addition across all age groups.

Gender-wise analysis indicates that the share of female enrolment is approximately 20.56% of the total net subscriber addition during the month. The net addition of female subscribers increased to 3.01 lakh during July 2021 as compared to 2.18 lakh in June 2021. This is largely due to lower female member exits and higher new joining during the month.

Industry-wise payroll data indicates that the ‘expert services’ category (consisting of manpower agencies, private security agencies, and small contractors, etc.) constitutes 41.62% of total subscriber addition during the month. Apart from this, a 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.

The payroll data is provisional since the data generation is a continuous exercise, as the updation of employee records is a continuous process. The previous data hence gets updated every month. Since May 2018 EPFO has been releasing payroll data covering the period September 2017 onwards.

EPFO provides provident funds, pension benefits to the members on their retirement, and family pension & insurance benefits to their families in case of the untimely death of the member. EPFO is the countrys principal organization responsible for providing social security benefits to the organized/semi-organized sector workforce covered under the statute of EPF & MP Act, 1952.

About Editor in chief

Ashok Palit has completed his graduation from Upendranath College Soro, Balasore and post graduation from Utkal University in Odia Language and literture.. He has also carved out a niche for himself as a scribe of eminence after joining the profession in 1988. He is also an independent media production professional. He brings loads of experience to Advanced Media, Ashok Palit as a cineaste has been active in film criticism for over three decades. As a film society activist, he soared to eminence for his profound commitment to the art film appreciation and aesthetics of cinema. His mode of discourse is often erudite but always lucid and comprehensible marked by a perfect acumen so rare in the field. A film aesthete with an immense fond of critical sensibilities, he wrote about growth and development of odia cinema in New Indian Express, The Times of India, The Hindustan Times, The Asian Age and Screen. He has been working as an Editor for Cine Samaya from 2002-2004.. He had made solid contribution on cinema in many odia Dailies and weekly such as Samaj, Prajatantra, Dharatri, Samaya, Satabadi, and weekly Samaya.

Leave a Reply

Your email address will not be published.

x

Check Also

Term 1 Date Sheets: CBSE Class 10 Board Exams From Nov 30, Class 12 From Dec

New Delhi:18/1 0/2 1: Central Board of Secondary Education (CBSE) on Monday released date sheets for Class 10 and 12 term 1 exams 2021-22. The first-term Board exams will be ...