EPFO adds 15.29 lakh net subscribers in January 2022

Of the total 15.29 lakh, net subscribers added during the month, around 8.64 lakh new members have been registered under the social security ambit of EPF & MP Act, 1952 for the first time.

New Delhi: Employees Provident Fund Organisation (EPFO) has added 15.29 lakh net subscribers during January 2022, as per the provisional payroll data released on Sunday. According to the press release issued by the Ministry of Labour and Employment, a month-on-month comparison of payroll data also indicates an increase of 2.69 lakh net subscribers addition in January 2022 as compared to the net additions during the previous month of December 2021.

Of the total 15.29 lakh, net subscribers added during the month, around 8.64 lakh new members have been registered under the social security ambit of EPF & MP Act, 1952 for the first time.

Approximately 6.65 lakh net subscribers exited but re-joined EPFO by continuing their membership with EPFO instead of opting for final withdrawal. The payroll data also reflects a declining trend in the number of members exited since July 2021.

Age-wise comparison of payroll data shows that the age group of 18-25 years has registered the highest number of net enrolments with 6.90 lakh additions during January 2022, which is around 45.11 per cent of total net subscribers added during the month.

This is followed by the age group of 29-35 years with a healthy addition of around 3.23 lakh net enrolments. This indicates that many first-time job seekers are joining the organized sector workforce in large numbers and signifies a crucial stage for an individual`s potential in terms of earning capacity.