By India Blooms News Service Jan 21, 2023
New Delhi/IBNS:Employees Provident Fund Organisation (EPFO) has added 16.26 lakh new net subscribers during November 2022, registering a 16.5 percent higher compared to a year ago, the labour ministry said on Friday.
The data indicate a 25.67 percent increase in net additions compared to the previous month in October 2022, a labour ministry statement said.
Of the total 16.26 lakh members added during the month, around 8.99 lakh new members came under the ambit of EPFO for the first time thus.
This reflected that new members joining EPFO has soared by 1.71 lakh, from 7.28 lakh in October 2022.
The data also highlights that approximately 11.21 lakh members re-joined EPFO membership. These members switched their jobs and re-joined the establishments covered under EPFO and opted to transfer their accumulations instead of applying for final settlement thus, extending their social security protection.
Gender-wise analysis of payroll data indicates that enrolment of net female members has been 3.19 lakh in November, 2022.
As compared to previous month net female member addition has increased by around 0.56 lakh from 2.63 lakh in October 2022.
Year-on-year comparison of enrolment data shows a growth of 7.90 percent in net membership of females in organised workforce, in November 2022 comparing with the net female membership during previous year in November, 2021.
State-wise payroll figures highlight that month-on-month growing trend in net member addition is reflected in the states of Gujarat, Haryana, Tamil Nadu, Uttar Pradesh, Maharashtra Rajasthan.
These states together add 58.23 percent of total net membership during the month.
Of all the states, Maharashtra is leading by adding 20 percent of overall member addition followed by the state of Tamil Nadu with 10.91 percent during the month.
The classification of industry-wise payroll data indicates that Expert Services (consisting of manpower suppliers, normal contractors, security services, miscellaneous activities etc.) constitute 40 percent of total member addition during the month.
Comparing industry-wise data with that of previous month, higher enrolments have been noticed in industries namely, automobile servicing, building and construction industry, engineers- engg. contractors, financing establishment, hospitals etc.
The payroll data is provisional since the data generation is a continuous exercise, as updating employee record is a continuous process. The previous data hence gets updated every month.
From the month of April-2018, EPFO has been releasing payroll data covering the period September, 2017 onwards.
In monthly payroll data, the count of members joining EPFO for the first time through Aadhaar validated Universal Account Number (UAN), existing members exiting from coverage of EPFO and those who exited but re-joining as members, is taken to arrive at net monthly payroll.
EPFO is Indias principal organisation responsible for social security coverage to the organised sector workforce covered under the purview of Employees Provident Funds Miscellaneous Provisions Act, 1952.