New Delhi: The employee provident fund organization (EPFO) released its provisional payroll data for July on Monday, saying it added about 14.65 lakh of net subscribers during the month. The pension fund body noted an increase in net payroll additions over the past four months. In July of this year, net subscriber additions increased by 31.28% compared to June 2021, when the total additions was 11.16 lakh. Of the total of 14.65 lakhs of net subscribers added in July, around 9.02 lakhs of new members fell for the first time under the EPFO social security umbrella, according to a notification released by the ministry. of Labor and Employment.
The notification also states that around 5.63 lakh of net subscribers left EPFO but joined EPFO by changing jobs within establishments covered by EPFO, showing that the majority of subscribers chose to continue their membership in EPFO rather than requesting a final withdrawal.
In July, the number of those who first joined EPFO increased by 6%, members who joined EPFO increased by around 9% while members who left decreased by 36, 84% compared to the previous month, he added.
EPFO said the 22-25 age group recorded the highest number of net registrations with 3.88 lakh additions in July this year. Next come the 18-21 age group with around 3.27 lakh of net enrollment, indicating that many first-time job seekers are joining the organized sector workforce in large numbers. and contributed about 48.82% of total net subscriber additions during the month.
Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka lead the way in adding around 9.17 lakh of subscribers during the month, which represents around 62.62% of the total net payroll, said he added.
According to EPFO data, female registrations accounted for 20.56% of the total net subscriber addition in July. The net addition of female subscribers rose to 3.01 lakh in July 2021 from 2.18 lakh in June 2021.
The “expert services” category made up 41.62% of the total subscriber addition during the month. Apart from this, a growing trend of net payroll additions has been observed in sectors such as commercial establishments, engineering products, building and construction, textiles, clothing, hospitals and establishments. funding.