Economy

EPFO adds 14.65 lakh subscribers in July

Our Bureau New Delhi | Updated on September 20, 2021

The net subscriber addition has increased by 31.28 per cent in July as compared to June 2021

The EPFO has added around 14.65 lakh net subscribers during July 2021 according to its provisional payroll data published by the Union Labour Ministry here on Monday. The Ministry said that the data highlighted a growing trend in net payroll additions for the last four months.

The net subscriber addition has increased by 31.28 per cent in July as compared to June 2021. The total additions in June were 11.16 lakh. Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are the major contributing States. They added 9.17 lakh subscribers, 62.62 per cent of the total addition.

Of the 14.65 lakh net subscribers, around 9.02 lakh are new members and around 5.63 lakh exited and rejoined job change.

“This shows that majority of subscribers opted to continue their membership with EPFO, by transferring their past accumulations from previous job to the current PF account rather than applying for final withdrawal,” the Government release said.

The number of members who have joined EPFO for the first time has increased by six per cent and members who re-joined has increased by around nine per cent. Members who exited have decreased by 36.84 per cent as compared with previous month, the release said. Expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc.) constitutes 41.62 per cent of total subscriber addition. Industries like trading-commercial establishments, engineering products, building and construction, textiles, garment making, hospitals and financing establishments have also shown a growing trend.

About 3.88 lakh new members are in the age group of 22 to 25. 3.27 lakh members are between 18 and 21. “This indicates many first-time job seekers are joining organised sector workforce in large numbers and have contributed around 48.82 per cent of total net subscriber additions in July, 2021,” the Ministry said. 20.56 per cent of the total net subscribers are women.

“The net addition of female subscriber 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,” the Union Labour Ministry claimed.

Published on September 20, 2021

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