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EPFO net new enrolments grow nearly 20% to 12.37 lakh in February

The provisional payroll data of EPFO highlights a growing trend with the addition of 12.37 lakh net subscribers during the month of February, 2021, a labour ministry statement said.

April 21, 2021 / 09:26 AM IST
The data reflects growth of 3.52 percent in net subscribers addition in February 2021 over January 2021.

The data reflects growth of 3.52 percent in net subscribers addition in February 2021 over January 2021.

Net new enrolments with retirement fund body EPFO grew by nearly 20 percent to 12.37 lakh in February compared to the same month in 2020, according to the payroll data released on Tuesday, providing a perspective on formal sector employment amid the coronavirus pandemic.

The provisional payroll data of EPFO highlights a growing trend with the addition of 12.37 lakh net subscribers during the month of February 2021, a labour ministry statement said.

The data reflects growth of 3.52 percent in net subscribers addition in February over January.

“Year-on-year comparison of payroll data indicates an increase of 19.63 percent in net subscribers as compared to the corresponding period in February 2020,” the ministry said.

Despite COVID-19 pandemic, the EPFO has added around 69.58 lakh net subscribers during the current financial year (till February 2021). During 2019-20, the number of net new subscribers rose to 78.58 lakh as compared to 61.12 lakh in the preceding fiscal, the data showed.

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(With PTI inputs)
Moneycontrol News
first published: Apr 21, 2021 09:26 am

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