EPFO added 14.81 lakh net subscribers in August

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Retirement fund body Employees Provident Fund Organisation (EPFO) on October 20 said it added 14.81 lakh net subscribers during August 2021.

"For the month of August 2021, the net subscriber addition has increased by 12.61% as compared to the previous month of July, 2021," the labour ministry said in a statement.

According to the provisional payroll data issued by EPFO, around 9.19 lakh new members joined the EPFO in August while roughly, 5.62 lakh net subscribers exited and then rejoined the EPFO.

Age-wise comparison of payroll data shows that the age-group of 22-25 years has registered the highest number of net enrolments with around 4.03 lakh additions, followed by 18-21 age-group with around 3.25 lakh net enrollments.

"This indicates that many first-time job seekers are joining organised sector workforce in large numbers and have contributed around 49.18 percent of total net subscriber additions in August, 2021," the ministry said.

Maharashtra, Haryana, Gujarat, Tamil Nadu, and Karnataka continue to lead in employment generation by adding 8.95 lakh subscribers during the month, which is around 60.45 percent of total net payroll addition across all age groups.

Gender-wise analysis shows that the share of female enrolment was approximately 20 percent of the total net subscriber addition during the month.

Industry-wise analysis indicates that the ‘expert services’ category constitutes 39.91 percent of the total subscribers during August 2021.

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.