EPFO Updates: Good news on the employment front, EPFO added 16.83 lakh subscribers in September..
Employees Provident Fund Organization: Good news has come out regarding employment in the country. Employees Provident Fund Organization ie EPFO has added 16.8 lakh subscribers during September 2022, which is 9.14 per cent more than the same month in 2021. While the Net Subscriber during the month is 21.85 per cent more than the monthly average recorded during the last financial year. EPFO has shared this information on its Twitter handle.
Talking about the figures, 2,861 new establishments have started complying with the EPFO and MP Act, 1952 while ensuring social security for their employees. According to the data released by EPFO, out of 16.8 lakh subscribers, 9.34 lakh members have been registered under the EPFO portal for the first time.
Most employees aged 18-25
Most of these subscribers are employees in the age group of 18 to 25 years, which is about 58.75 percent of 16.8 lakh. 2.94 lakh employees in the age group of 18 to 21 years have been added to EPFO. And 2.54 lakh members are in the age group of 21 to 25. At the same time, it has also been learned from the data that 7.49 lakh net members have been out of the scheme, but have been re-connected through new institutions or companies. On the other hand, the number of members coming out of EPFO every month has been less by about 9.65 percent as compared to the previous month.
3.50 lakh women joined in September
If we talk about female-male figures, then in September purely 3.50 lakh women are associated with the organized sector. This is 6.98 percent more than in September last year. According to PTI, every month, there has been an increase in the number of members coming under the purview of EPFO in Maharashtra, Gujarat, Uttar Pradesh, Rajasthan, Andhra Pradesh and Odisha.
#EPFO adds 16.83 lakh net subscribers, around 9.34 lakh new members, during September 2022#SocialSecurity #AmritMahotsav @byadavbjp @Rameswar_Teli @LabourMinistry @PIB_India @MIB_India— EPFO (@socialepfo) November 20, 2022
For more details: https://t.co/ow8hoCV1O2…
Payroll data link: https://t.co/v76EEuj8R7…
What the labour ministry said
This shows that a large number of first-time job seekers are joining the organized sector workforce after their education and new jobs in the organized sector are largely going to the youth, the labour ministry said.