New Delhi: The provisional payroll data released recently highlights that EPFO has added 13.95 lakh net subscribers during November 2021, showing an increase of around 2.85 lakh net additions over the previous month of October, 2021 with a growth rate of 25.65 per cent. Year-on-year comparison of payroll data also shows an increase of around 3.84 lakh in net payroll additions in November, 2021 as compared to 10.11 lakh net subscribers added during the previous year in November, 2020.
Of the total 13.95 lakh net subscribers added during the month, 8.28 lakh new members have come under the social security cover of EPFO for the first time. Approximately 5.67 lakh net subscribers exited but rejoined EPFO by changing jobs within the establishments covered under the purview of EPF and MP Act, 1952. The subscribers opted to continue their membership with EPFO by transferring their PF accumulations from previous to present PF account instead of applying for final withdrawal.
Age-wise comparison of payroll data shows that the age-group of 22-25 years has registered the highest number of net enrolments with 3.64 lakh additions during November, 2021. Age-group of 18-21 also registered a healthy addition of around 2.81 lakh net enrolments. Age-groups of 18-25 years have contributed around 46.20 per cent of total net subscriber additions in November, 2021. Members of these age-groups are usually fresh hands, entering into the job market following education signifies a crucial stage on application of academic learning and possibility of advancement.
Pan India comparison of payroll figures highlights that the establishments covered in the states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are in lead by adding approximately 8.46 lakh subscribers during the month, which is around 60.60 per cent of total net payroll addition across all age groups.
Gender-wise analysis indicates that net share of female subscribers during the month is 2.95 lakh, which is almost 59,005 more than that of subscribers added during the previous month of October, 2021 when 2.36 lakh net females participated in the organized workforce with an increase of 24.97 per cent. /BI/
