The provisional payroll data of EPFO has been published on 20th April, 2021 highlights a growing trend with the addition of 12.37 lakh net subscribers during the month of February, 2021. 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.The growth may partly be attributed to various e-initiatives taken by EPFO for seamless and uninterrupted service delivery in addition to the policy support for formalization of the economy through ABRY, PMGKY and PMRPY schemes of Government of India, amid COVID -19 pandemic.
Of the 12.37 lakh net subscribers added during the month of February 2021, around 7.56 lakh new members have come into the social security ambit of EPFO for the first time. Around 4.81 lakh net subscribers exited and then rejoined EPFO by switching their jobs within the establishments covered by EPFO and choosing to retain membership through transfer of funds rather than opting for final settlement.
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