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EPFO Payroll: April records 9.23 lakh fresh additions to formal work

The new payroll additions recorded in April, the first month of FY23, is almost 45,000 less than the new additions in March, when the pension fund had added 968,163 new subscribers. But net payroll additions have gone up.

June 20, 2022 / 19:09 IST
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Representative image: Reuters

At least 922,752 people joined formal work for the first time in April 2022, lower than March additions, the payroll data of the Employees’ Provident Fund Organisation (EPFO) showed on June 20.

The new payroll additions recorded in April, the first month of FY23, are almost 45,000 less than the new additions in March, when the pension fund had added 968,163 new subscribers. In February, this number was 886,836 and in January 2022, it was 937,610, as per official data released in May

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As per provisional payroll data released by EPFO on Monday, at least 494,490 fresh additions were in the 18-25 age group, a key consideration while evaluating the labour market movement. Among other age cohorts, people above the age of 35 came second with nearly 169,597 fresh additions.

While the growth in new payroll additions was slightly lower when compared with March numbers released in May 2022, EPFO said there is a sizable growth in net payroll additions.