EPFO’s new subscriber addition falls 2% in May

At 1.68 million, net enrolment in May was, however, higher than 1.53 million recorded in April and just over a million in the last fiscal.

EPFO’s new subscriber addition falls 2% in May
EPFO arrives at the net number deducting the total of the subscribers’ who have exited from the sum of new subscribers and those who left earlier but re-joined during the month.

New subscribers’ addition under the social security schemes run by the Employees’ Provident Fund Organisation (EPFO) fell by a little over 2% to 0.96 million in May from 0.98 million in April this year, the latest payroll data showed. While new enrolment may not necessarily mean new jobs, the addition of new subscribers in May this fiscal was, however, higher than the monthly average of 0.9 million recorded in FY22. 

At 1.68 million, net enrollment in May was, however, higher than 1.53 million recorded in April and just over a million in the last fiscal. EPFO arrives at the net number deducting the total of the subscribers’ who have exited from the sum of new subscribers and those who left earlier but re-joined during the month.

The latest payroll data showed that while 0.39 million subscribers exited the scheme during the month, a little over 1.1 million of those who exited earlier came back to the EPFO fold in May FY23. Of the net addition of subscribers in May, 20% were women. “Age-wise comparison of payroll data indicates that the age-group of 22-25 years has registered the highest number of net enrolments with 0.43 million additions during May 2022.

This shows that many first-time job seekers are joining organised sector workforce,” an official statement said. State-wise comparison of payroll figures highlights that the establishments covered in Maharashtra, Karnataka, Tamil Nadu, Haryana, Gujarat and Delhi remain in lead by adding approximately 1.1 million net subscribers during the month, which is 67.42% of total net payroll addition across all age groups.

“The payroll data is provisional since the data generation is a continuous exercise, as updation of employee record is a continuous process. The previous data, hence, gets updated every month,” the ministry of labour and employment said. 

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