EPFO adds 16.82 Lakh Net Subscribers: See Full Details Here!!!The Employees’ Provident Fund Organization is one of the main statutory social security bodies under the Government of India’s Ministry of Labour and Employment. This Employees’ Provident Fund Organization (EPFO) now added 16.82 lakh new net subscribers in May, 2022. According to the Age wise comparison, nearly 4.33 lakh 22-25 year age group people were enrolled in EPFO as new subscribers.
Which means more than 7.62 lakh net additions were recorded in the year. Moreover The Labour Ministry said that, out of the total 16.82 lakh subscribers around 9.60 lakh new members added in May month for the first time. The EPFO stated that, ‘Approximately 7.21 lakh net subscribers exited but rejoined EPFO by changing their jobs within the establishments covered by EPFO and opted to continue their membership under the EPF Scheme, by transferring their funds instead of applying for final PF withdrawal’.
When we compare the State wise payroll figures, approximately 11.34 lakh new net subscribers were added in the states of Maharashtra, Karnataka, Tamil Nadu, Haryana, Gujarat and Delhi which is 67.42% of total net payroll addition in a month. In Gender wise analysis, net female payroll addition is approximately 3.42 lakh and share of female enrolment is 20.39 percent of the net subscriber addition during the month of May.
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