Good news! In December last year, 14.6 lakh new subscribers have joined Employees Provident Fund Organisation (EPFO). A large number of first time job seekers are joining the organised sector workforce. In fact, retirement fund body Employee Provident Fund Organisation (EPFO) added 14.6 lakh subscribers on an actual basis in December 2021, which is 16.4% more when compared with the same period a year ago.
19.98% increase in the number of subscribers compared to November
Provisional data released by EPFO on Sunday shows that EPFO had added 12.54 lakh subscribers on actual basis during December 2020. The Labour Ministry said in its statement that there was an increase of 19.98% in the number of subscribers on a real basis in December 2021 as compared to November 2021.
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The provisional estimates of 13.95 lakhs released in January 2021 were revised to 12.17 lakhs for the actual subscribers created in the month of November. Out of the total 14.60 lakh subscribers added on actual basis in December 2021, 9.11 lakh new subscribers have been registered for the first time under the EPF and MP Act, 1952.
The statement said that the number of subscribers exiting EPFO has been declining since July 2021. According to the data, maximum registration took place in the age group of 22-25 years. In December 2021, women accounted for about 20.52% of the total subscribers added on an actual basis.
