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As many as 10.54 lakh workers were covered under the social security schemes administered by the Employees’ Provident Fund Organisation (EPFO) for the first time in June this year as against 9.6 lakh members in May 2022.
According to the EPFO’s provisional payroll data, it has added 18.36 lakh net members in June 2022, a 9.21 per cent increase compared to the previous month.
On a year-on-year comparison, the data reflects a 5.53 per cent growth in net member addition in June 2022 compared to a year ago period.
New member additions
Out of the total 18.36 lakh members added during the month, around 10.54 lakh new members have been covered under EPF & MP Act, 1952 for the first time, the data revealed.
“New member joining has shown a growing trend since April, 2022,” the Ministry of Labour and Employment said in a statement on Saturday.
Approximately 7.82 lakh net members exited but re-joined the EPFO after they changed jobs and opted to transfer their funds from the previous account instead of withdrawal, it further added.
“The new enrolment during the month is higher than the monthly average recorded during the last fiscal,” the Ministry said.
Industry-wise data
Industry-wise, payroll data indicates that mainly two categories -- ‘expert services’ (consisting of manpower agencies, private security agencies and small contractors etc.) and ‘Trading-Commercial establishments’ constitute 47.63 per cent of the total member addition during the month.
Comparing industry-wise data with that of previous month, higher enrolments have been noticed in industries namely, ‘Schools’, ‘Garments making’, ‘Expert services’ and ‘Textile’.
Age-wise comparison of payroll data indicates that the age group of 22-25 years has registered the highest net enrolments with 4.72 lakh additions during June 2022.
“This shows that many first-time job seekers are joining organized sector workforce in large numbers,” the Ministry said.
Amongst States, establishments in Maharashtra, Karnataka, Tamil Nadu, Haryana, Gujarat and Delhi remain in the lead by adding approximately 12.61 lakh net members during June, which is 68.66 per cent of total net payroll addition across all age groups.
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