EPFO adds around 12.76 lakh net subscribers during April this year
Employees’ Provident Fund Organization (EPFO) has added around 12.76 lakh net subscribers during April this year.
Despite the second wave of COVID-19 pandemic, the month registered an increase of 13.73 percent net subscribers addition as compared to the previous month during which around 11.22 lakh net subscribers were added to the payroll.
The recently published provisional payroll data of EPFO reflects that the number of exits in the month of April, 2021 have declined by over 87 thousand and rejoining has increased by over 92 thousand subscribers as compared to March.
Of the 12.76 lakh net subscribers added during April, around 6.89 lakh new members have come into the social security coverage of EPFO for the first time.
Around 5.86 lakh net subscribers exited and then rejoined by changing their jobs within the establishments covered by EPFO and choose to retain membership through transfer of funds rather than opting for final settlement.
State-wise comparison of payroll figures shows that establishments registered with the states of Maharashtra, Haryana, Gujarat, Tamilnadu and Karnataka to remain in forefront by adding around 7.58 lakh subscribers during the month, which is around 59.41 percent of total net payroll addition across all age groups.
The North Eastern states have shown above average growth in terms of net subscribers addition as compared with previous month.