EPFO’s subscribers rose by 16 per cent in December 2021 over corresponding interval
New Delhi:
Workers’ Provident Fund Organisation (EPFO) added 14.6 lakh subscribers on a internet foundation in December 2021, a rise of 16.4 per cent in comparison with corresponding interval of final 12 months, based on the newest payroll knowledge.
EPFO’s provisional payroll knowledge, which launched on Sunday confirmed that the retirement fund physique had added 12.54 lakh internet subscribers throughout December 2020.
The web subscriber addition in December has elevated by 19.98 per cent as in comparison with the earlier month of November 2021, an announcement by labour ministry mentioned.
The web subscriber addition in November 2021 was revised downwards to 12.17 lakh from 13.95 lakh provisional estimates launched in January 2022.
Of the whole 14.60 lakh internet subscribers added in December, 2021, 9.11 lakh new members have been enrolled beneath EPF & MP Act, 1952 for the primary time.
Roughly 5.49 lakh internet subscribers exited however rejoined EPFO by opting to proceed their membership with EPFO by transferring their PF accumulations from earlier to current PF account as an alternative of choosing remaining withdrawal. Additional, it acknowledged that the variety of members exiting EPFO has been on a declining pattern since July, 2021.
In keeping with the information, the age-group of 22-25 years registered the very best variety of internet enrolments with 3.87 lakh additions throughout December 2021. The age-group of 18-21 additionally registered a wholesome addition of round 2.97 lakh internet enrolments.
The age-groups of 18-25 years have contributed round 46.89 per cent of complete internet subscriber additions in December, 2021. This means that many first-time job seekers are becoming a member of the organised sector workforce in massive numbers.
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