City
Epaper

EPFO added 14.6 lakh subscribers in Dec 2021, up 16.4% YoY

By IANS | Updated: February 20, 2022 20:50 IST

New Delhi, Feb 20 The Employees' Provident Fund Organisation (EPFO) added 14.6 lakh net subscribers in December 2021, ...

Open in App

New Delhi, Feb 20 The Employees' Provident Fund Organisation (EPFO) added 14.6 lakh net subscribers in December 2021, up 16.4 per cent compared to the corresponding period of the previous year.

Comparison shows an increase of around 2.06 lakh in net payroll additions in December 2021, as compared to 12.54 lakh net subscribers added during the corresponding month of the previous year.

On a month-on-month basis, the net subscriber addition increased by 19.98 per cent, as compared to November 2021.

"Of the total 14.60 lakh net subscribers added, 9.11 lakh new members have been enrolled under the EPF & MP Act, 1952 for the first time. Approximately, 5.49 lakh net subscribers exited but rejoined EPFO by opting to continue their membership with EPFO by transferring their PF accumulations from previous to present PF account instead of opting for final withdrawal. Further, the number of members exiting EPFO has been on a declining trend since July, 2021," the Ministry of Labour and Employment said in a statement.

Age-wise, the age-group of 22-25 years registered the highest number of net enrolments with 3.87 lakh additions in December, 2021.

Besides, the age-group of 18-21 also registered a healthy addition of around 2.97 lakh net enrolments.

Whereas, age-groups of 18-25 years contributed around 46.89 per cent of total net subscriber additions during the month which indicates that many first-time job seekers have joined the organised workforce in large numbers, the statement said.

Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka saw the highest number of net additions, adding approximately 8.97 lakh subscribers during the month, which is around 61.44 per cent of total net payroll addition across all age groups, it added.

EPFO provides provident fund, pension benefits to the members on their retirement and family pension and insurance benefits to their families in case of untimely death of the member.

EPFO is the country's principal organisation responsible for providing social security benefits to the organised and semi-organised sector workforce covered under the statute of EPF & MP Act, 1952.

Disclaimer: This post has been auto-published from an agency feed without any modifications to the text and has not been reviewed by an editor

Tags: Employees' Provident Fund OrganisationMinistry Of Labour And EmploymentLabour and employmentLabour and employment ministry
Open in App

Related Stories

NationalEPFO Portal Down? Users Face Problems from Login to Downloading Passbook

NationalEPFO Launches New Form 13 to Speed Up PF Transfer Process for 1.25 Crore Members

NationalHow To Withdraw EPF Money via UPI? Step-by-Step Guide to Instant PF Withdrawal

NationalEPFO Retains 8.25% Interest Rate On Employees Provident Fund for 2024-25

NationalUniversal Pension Scheme: EPFO Working To Provide Voluntary Pension Scheme; Check Details

International Realted Stories

InternationalTaiwan detects Chinese military activity near its territory

International"PM Modi has our full support": US State Dept spokesperson Tammy Bruce

InternationalIran Foreign Minister Araghchi to visit India on May 7-8, hold talks with EAM Jaishankar

InternationalTwo Syrian-Druze civilians evacuated to Israel for medical treatment

InternationalDefeating Hamas is Israel's primary objective: Israeli PM