EPFO added 12.83 lakh net subscribers in June

Retirement fund body Employees Provident Fund Organisation (EPFO) on August 20 said it added 12.83 lakh net subscribers during June 2021.

"With respect to payroll data, the impact of second wave of COVID-19 pandemic waned during June 2021, leading to tremendous growth in net payroll additions as compared to April and May 2021. Month-on-month analysis reveals an increase of 5.09 lakh additions in net subscribers during June 2021 as compared to the previous month of May 2021," the labour ministry said in a statement.

According to the provisional payroll data issued of EPFO, around 8.11 lakh new members joined the EPFO in June while roughly, 4.73 lakh net subscribers exited and then rejoined the EPFO.

Maharashtra, Haryana, Gujarat, Tamil Nadu, and Karnataka continue to lead in employment generation by adding 7.78 lakh subscribers during the month, which is around 60.61 percent of total net payroll addition across all age groups.

Gender-wise analysis shows that 2.56 lakh net female subscribers were added in the month of June, which is around 0.79 lakh more than those added in the previous month.

Industry-wise analysis indicates that the ‘expert services’ category constitutes 41.84 percent of the total subscribers during June 2021.

Age-wise comparison of payroll data shows that the age-group of 18-25 years has registered the highest number of net enrolments with around 6.15 lakh additions, which is 47.89 percent of total net additions during June.

This is followed by the age group of 29-35 with around 2.55 lakh net payroll additions.

Since April 2018, EPFO has been releasing payroll data covering the period September 2017 onward. The data published comprises members who have joined during the month, exited, and rejoined the fund body.