HomeNewsBusinessEPFO added 14.65 lakh net subscribers in July, went up 31.28% over June

EPFO added 14.65 lakh net subscribers in July, went up 31.28% over June

First time job seekers have contributed around 48.82 percent of total net subscriber additions in July.

September 20, 2021 / 18:33 IST
Story continues below Advertisement
The Union Cabinet on July 14 approved a hike in DA and DR from 17 percent to 28 percent with effect from July 1, 2021. (Source: ShutterStock)
The Union Cabinet on July 14 approved a hike in DA and DR from 17 percent to 28 percent with effect from July 1, 2021. (Source: ShutterStock)

Retirement fund body Employees Provident Fund Organisation (EPFO) on September 20 said it added 14.65 lakh net subscribers during July 2021.

"For the month of July 2021, the net subscriber addition has increased by 31.28% as compared to the previous month of June 2021 when the total additions were 11.16 lakh," the labour ministry said in a statement.

Story continues below Advertisement

According to the provisional payroll data issued of EPFO, around 9.02 lakh new members joined the EPFO in July while roughly, 5.63 lakh net subscribers exited and then rejoined the EPFO.

Data reflects that during July this year, the number of members who have joined EPFO for the first time has increased by 6 percent while members who re-joined increased by around 9 percent.