New Delhi: Employees’ Provident Fund Organisation (EPFO) has added 18.23 lakh net subscribers in July this year. The provisional payroll data released by EPFO has revealed this. This is a growth of 24.48% when compared with July, 2021. In this, more than 10 lakh new members have come under the social security cover of EPFO for the first time.
More than 57% new members are from the age group of 18 to 25 years. Enrollment of the female workforce was recorded 27.54%. This is the highest in the last 12 months.
EPFO is the country’s principal organization responsible for providing social security benefits to the organized/semi-organized sector workforce covered under the EPF & MP Act, purview, 1952. The payroll data is provisional since the data generation is a continuous exercise, as the updation of employee records is a continuous process. The previous data hence gets updated every month.