EPFO adds 15.32 lakh net subscribers in March
Tags: National News
As per provisional payroll data, Employees' Provident Fund Organisation (EPFO) has added 15.32 lakh new subscribers in the month of March 2022.
This is almost 20 per cent more than the 12.85 lakh subscribers enrolled in February this year.
Age-wise comparison of payroll data revealed that highest net enrollment in March 2022 was recorded by youth in the age group of 22-25 years.
Age-wise payroll data indicates that most first-time job seekers are joining the organised sector workforce in large numbers.
Establishments comprising Maharashtra, Karnataka, Tamil Nadu, Gujarat, Haryana and Delhi lead the way by adding around 10.14 lakh net customers during March, accounting for 66.18 per cent of the total net payroll growth across all age groups.
The share of female enrollment is 22.70 per cent of the total net subscriber base during March 2022.
There is a positive trend in the participation of women in the organised workforce since October 2021.
About Employees' Provident Fund Organisation (EPFO)
It is one of the largest social security organisations in the world in terms of customers and the volume of financial transactions made.
It is a statutory body established by the Government of India.
It came into existence with the Employees' Provident Fund Ordinance on November 15, 1951.
Headquarters - New Delhi
It was replaced by the Employees' Provident Fund Act, 1952.
Founded - 4th March 1952
Owned By - Ministry of Labour and Employment, Government of India
It aims to meet the emerging needs of comprehensive social security in a transparent, contactless, faceless and paperless manner.
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