EPFO New Subscribers: There has been an increase in employment in the month of May. Employees’ Provident Fund Organization (EPFO) has added 16.82 lakh new subscribers in May, 2022. This figure is about 83 percent more than the 9.2 lakh EPFO Subscribers who joined EPFO in May, 2021. Explain that employment has increased in the organized sector.
Ministry released data
The Labor Ministry said in a statement on Wednesday that according to the preliminary data of people hired in the organized sector (payroll) for May, 2022 released on Wednesday by the EPFO, the number of its subscribers has increased in comparison to the same period last year. There has been an increase of Rs 7.62 lakh.
Total 16.82 lakh subscribers added in May
According to the data, out of the total 16.82 lakh subscribers added in May, about 9.60 lakh subscribers have been added for the first time under the Employees’ Provident Fund and Miscellaneous Provisions Act, 1952. At the same time, about 7.21 lakh members rejoined EPFO after leaving EPFO due to change of jobs. The number of subscribers who joined EPFO during May, 2022 is more than the monthly average figures of the previous financial year.
People of 22-25 years got maximum employment
According to age-based payroll data, the maximum increase during May 2022 was in the age group of 22-25 years. During this 4.33 lakh members of this age group joined. According to the data, Maharashtra, Karnataka, Tamil Nadu, Gujarat, Haryana and Delhi have seen the maximum increase in subscribers joining EPFO. These states added about 11.34 lakh new subscribers in a net during May 2022, which is 67.42 per cent of the total number.
number of women
The number of women who joined EPFO in May has been 3.42 lakh in net. During this period, the share of women in the total people joining EPFO has been 20.39 percent.