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EPFO adds 12.73 lakh net subscribers in October

Employees Provident Fund Organization EPFO today released its provisional payroll data, highlighting that EPFO has added 12 lakh 73 thousand net subscribers during October this year.

EPFO said, year-on-year comparison shows an increase of around 10.22 pec cent in net payroll additions in October this year as compared to 11.55 lakh net subscribers added during previous year in October.

EPFO said, of the total 12 lakh 73 thousand net subscribers added, 7 lakh 57 thousand new members have been enrolled under Employees Provident Fund and Miscellaneous Provisions Act-1952, for the first time.

It said, nearly 5 thousand16 lakh net subscribers excited but rejoined EPFO by opting to continue their membership with EPFO by transferring their Provident Fund accumulations from previous to present Provident Fund account instead of opting for final withdrawal.

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