EPFO adds 17.08 Lakh subscribers in April

Employees’ Provident Fund Organization added 17.08 lakh net subscribers in April, registering an increase of 4.32 lakh on an annual basis.

About 9.23 lakh new members fell under the Social Security Act on Social Security Funds and other employee regulations for the first time, 1952, according to provisional salary figures released on Monday.

“Approximately 7,85 lakh net subscribers left and rejoined the establishments covered by EPFO, changing jobs in the establishments covered by EPFO. Salary figures reflect a declining trend in the number of members leaving over the past four months, the statement said.

The age group of 22-25 years registered the largest number of net entries with 4.30 lakh supplements in April 2022. It is followed by the age group of 29-35 years.

Maharashtra, Karnataka, Tamil Nadu, Haryana, Gujarat and Delhi topped the list, adding approximately 11.60 lakh net subscribers during the month.

“Gender analysis shows that the net increase in wages for women is approximately 3.65 lakhs per month. The share of subscribed women is 21.38% of the total net addition of subscribers in April 2022, an increase of 17,187 net subscriptions compared to the previous month of March 2022, “the statement said.

“Expert services” (consisting of recruitment agencies, private security agencies, small contractors, etc.) and “Retail” account for 48.25% of the total number of subscribers during the month.

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