Net addition to EPF at 12.8 lakh in April

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Updated: June 21, 2021 8:42 AM

The EPFO subscription numbers are often subject to big revisions; a clearer picture of a period emerges after such changes.

Similarly, only 5,72,634 new subscribers joined the scheme in May, down 22.8% from 7,41,270 in April, EPFO’s latest payroll data showed.Similarly, only 5,72,634 new subscribers joined the scheme in May, down 22.8% from 7,41,270 in April, EPFO’s latest payroll data showed.

Even as Covid-19 took an ugly turn in April, the Employees Provident Fund Organisation (EPFO) saw net addition of 12.76 lakh subscribers in the month, up 13.7% from the net addition in the  previous month.

Data released by the retirement fund body showed that during April, the number of exits declined by 87,821 and case of re-joining increased by 92,864 as compared to March, 2021. The EPFO subscription numbers are often subject to big revisions; a clearer picture of a period emerges after such changes.

“Of the 12.76 lakh net subscribers added during the month, around 6.89 lakh new members have come into the social security coverage of EPFO for the first time,” an official statement said.

Around 5.86 lakh subscribers exited and then re-joined EPFO in April upon changing their jobs within the establishments covered by EPFO and choose to retain membership through transfer of funds rather than opting for final settlement, it said.

Age-wise comparison of payroll data shows that the age-group of 22-25 years has registered highest number of net enrolments with around 3.27 lakh additions in April, followed by age-group of 29-35 with around 2.72 lakh. The members of 18-25 age-group, usually first timers in the job market, have contributed around 43.35% of total net subscriber additions in April, 2021.

State-wise comparison of payroll figures shows that establishments registered with the states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka remained in forefront by adding a combined 7.58 lakh subscribers during the month, which is around 59.41% of total net payroll addition across all age groups.

Gender-wise analysis indicates that the share of female’s enrolment is approximately 22% of total net subscribers addition during the month.

Month-on-month analysis reveals an increasing trend in net female subscribers by adding 2.81 lakh enrolments during April, 2021 which was 2.42 lakh during March, 2021. In addition to this, number of female subscribers who have come under the ambit of EPFO for the first time, has also increased to 1.90 lakh in April, 2021 from 1.84 lakh in March, 2021.

Industry-wise payroll data indicates that ‘expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc.) constitutes 45% of total subscribers addition during the month.

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. Since April, 2018 EPFO has been releasing payroll data covering the period September 2017 onwards.

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