EPFO added 9.20 lakh members in May
EPFO has added a total of 9.20 lakh members during May, 2021. This means that the second wave of the Kovid-19 epidemic has had little effect. According to the provisional payroll data released by EPFO on July 20, EPFO has been able to increase its total membership base by 20.20 lakh in the first two months of this financial year.
As indicated by payroll data, the impact of the second wave of the pandemic on payroll expansion has not been as severe as it was in the first. This can be attributed to the timely support of the Government of India by EPFO in the form of online claims submission, auto-claim settlement, online transfer of PF account, strengthening grievance redressal and services on mobile devices etc.
5.37 lakh new members join for the first time
Out of the total 9.20 lakh members added during the month of May, about 5.73 lakh new members have come under the purview of Employees’ Provident Fund Scheme for the first time. At the same time, about 3.47 members got separated from it, but with the change of jobs, they again joined the institutions under the purview of EPFO and they have retained their membership under the scheme through fund transfer.
Maximum number of people registered in the age group of 22-25 years
Comparing payroll data age wise, the maximum number of people in the age group of 22-25 years registered with 2.39 lakh new members during May, 2021. At the same time, the number of people in the age group of 29-35 stood at 1.90 lakh. Whereas, the share of women in the total new members added during this period was about 21.77 percent.
5 states added 11.83 lakh members
According to the data, registered establishments in the states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka topped the list with around 5.45 lakh new members during the month. They accounted for about 59.29 percent of the total payroll expansion across all age groups. During this financial year, these 5 states have added 11.83 lakh members out of 20.20 lakh members so far. The ‘Expert Services’ category, which includes workforce agencies, private security agencies and small contractors, accounted for 46.77 per cent of the total member additions during this period. EPFO has been releasing payroll data since May, 2018, which includes data up to September 2017.
