As per the latest payroll data, Employees’ Provident Fund Organisation (EPFO), a retirement fund body had added 15.29 lack subscribers in January 2022, which is an increase of over 21 per cent compared to 12.60 lakh in December. Out of 15.29 lakh new subscribers, approximately 8.64 lakh new members have been registered under the social security ambit of the EPF and MP Act 1952.
Around 6.65 lakh net members have exited the scheme but re-joined EPFO by continuing their membership instead of final withdrawal. The payroll data has also revealed a downward trend in the number of members exiting since July 2021. The organizations in Maharashtra, Gujrat, Haryana, Tamil Nadu, and Karnataka are leading in adding new members to EPFO with approximately 9.33 lakh subscribers during the month, which is almost 61% of the total net payroll addition across all age groups.
1.02 core new members have enrolled with EPFO from April to January this fiscal year. The retirement fund body has recorded net new subscribers 77.08 lakh in 2020-21 and 78.58 lakh in 2019-20 and 61.12 lakh in 2018-19.
