EPFO adds 12.37 lakh subscribers in February

The Employees’ Provident Fund Organisation (EPFO) said on Tuesday it had recorded a net addition of 12.37 lakh subscribers in February.

“Despite COVID-19 pandemic, EPFO has added around 69.58 lakh net subscribers during the current financial year. The data reflects growth of 3.52% in net subscribers addition in February 2021 over January 2021. Year-on-year comparison of payroll data indicates an increase of 19.63% in net subscribers, as compared to the corresponding period in February 2020,” it said.

Of the net additions, 7.56 lakh joined for the first time and about 4.81 lakh exited and re-joined while switching jobs. About 3.29 lakh of the net additions were in the 22-25 age bracket, while 2.51 lakh were in the 29-35 age group.

“Category-wise analysis of industries reflects dominance of ‘expert services’ category, with overall additions of 4.99 lakh net payroll additions in February 2021, followed by ‘trading-commercial establishments’ category, contributing around 84,000 subscribers,” it said.

Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are in forefront of net payroll addition.

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