EPFO added 13.95 lakh net subscribers in November, 2021 » Bhajpa Ki Baat
The provisional payroll data of EPFO released on 20th January 2022 highlights that EPFO has added 13.95 lakh net subscribers during the month of November 2021, showing an increase of around 2.85 lakh net additions over the previous month of October, 2021 with a growth rate of 25.65%.Year-on-year comparison of payroll data also shows an increase of around 3.84 lakh in net payroll additions in November, 2021 as compared to 10.11 lakh net subscribers added during the previous year in November, 2020.
Of the total 13.95 lakh net subscribers added during the month, 8.28 lakh new members have come under the social security cover of EPFO for the first time. Approximately 5.67 lakh net subscribers exited but rejoined EPFO by changing jobs within the establishments covered under the purview of EPF & MP Act, 1952. The subscribers opted to continue their membership with EPFO by transferring their PF accumulations from previous to present PF account instead of applying for final withdrawal.
Age-wise comparison of payroll data shows that the age-group of 22-25 years has registered highest number of net enrolments with 3.64 lakh additions during November, 2021. Age-group of 18-21 also registered a healthy addition of around 2.81 lakh net enrolments. Age-groups of 18-25 years have contributed around 46.20% of total net subscriber additions in November, 2021. Members of these age-groups are usually fresh hands, entering into the job market following education signifies a crucial stage on application of academic learning and possibility of advancement.
Pan India comparison of payroll figures highlights that the establishments covered in the states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are in lead by adding approximately 8.46 lakh subscribers during the month, which is around 60.60% of total net payroll addition across all age groups.
Gender-wise analysis indicates that net share of female subscribers during the month is 2.95 lakh, which is almost 59,005 more than that of subscribers added during the previous month of October, 2021 when 2.36 lakh net females participated the organised workforce with an increase of 24.97%.
Industry-wise payroll data indicates that ‘expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc.) constitutes 41.48% of total subscriber addition during the month. In addition, growing trend in net payroll additions has been noted in industries like building and construction industry, textiles, schools, restaurants, cement etc.
The payroll data is provisional since the data generation is a continuous exercise, as updation of employee record is a continuous process. The previous data hence gets updated every month. From the month of May-2018, EPFO has been releasing payroll data covering the period November 2017 onwards.
During the difficult time of Covid pandemic, EPFO is committed to provide a helping hand to its stakeholders. It reaffirms its vision to be an innovation driven social security organisation aiming to ensure uninterrupted and seamless service delivery,through state-of-the-art technology. With extensive use of social media nowadays, EPFO is available on Twitter, WhatsApp and Facebook to help the subscribers and addressing their issues.
(News Source -Except for the headline, this story has not been edited by Bhajpa Ki Baat staff and is published from a kamal sandesh feed.)