Employees’ Provident Fund Organisation (EPFO) added 14.6 lakh subscribers on a internet foundation in December 2021, a rise of 16.4 per cent in comparison with corresponding interval of final yr, based on the newest payroll knowledge.
EPFO’s provisional payroll knowledge, which launched on Sunday confirmed that the retirement fund physique had added 12.54 lakh internet subscribers throughout December 2020.
The internet subscriber addition in December has elevated by 19.98 per cent as in comparison with the earlier month of November 2021, a press release by labour ministry mentioned.
The internet subscriber addition in November 2021 was revised downwards to 12.17 lakh from 13.95 lakh provisional estimates launched in January 2022.
Of the entire 14.60 lakh internet subscribers added in December, 2021, 9.11 lakh new members have been enrolled below EPF & MP Act, 1952 for the primary time.
Approximately 5.49 lakh internet subscribers exited however rejoined EPFO by opting to proceed their membership with EPFO by transferring their PF accumulations from earlier to current PF account as a substitute of choosing ultimate withdrawal. Further, it said that the variety of members exiting EPFO has been on a declining pattern since July, 2021.
According to the information, the age-group of 22-25 years registered the very best variety of internet enrolments with 3.87 lakh additions throughout December 2021. The age-group of 18-21 additionally registered a wholesome addition of round 2.97 lakh internet enrolments.
The age-groups of 18-25 years have contributed round 46.89 per cent of complete internet subscriber additions in December, 2021. This signifies that many first-time job seekers are becoming a member of the organised sector workforce in giant numbers.