Page 2 - Epfo Data

Fresh formal job creation declines to six-month low, shows EPFO data

The monthly data released by the EPFO is part of the government's effort to track formal-sector employment by using payrolls as an instrument

Retirement fund body EPFO adds 1.7 million net members in September

Retirement fund body EPFO recorded a net addition of 17.21 lakh members in September, according to payroll data released on Monday. Month-on-month comparison of payroll data shows an increase of 21,475 net members over August 2023, a labour ministry statement said. Year-on-year comparison of payroll data reflects an increase of 38,262 net members over September 2022. Around 8.92 lakh new members enrolled during September 2023, the ministry said. Among these newly joined members, the age group of 18-25 years constitutes 58.92 per cent of total new members added during the month. This demonstrates that a majority of the members joining the organised sector workforce of the country are youth, who are mostly first-time job seekers, it explained. Payroll data shows that approximately 11.93 lakh members exited but rejoined EPFO, it stated. These members switched their jobs and re-joined the establishments covered under the ambit of EPFO and opted to transfer their accumulations instead

8.15% Interest for EPFO subscribers 'in pipeline', to be credited 'shortly'

The interest rate on EPF is reviewed annually, and for the fiscal year 2022-23, it is set at 8.15 per cent, up from the 7.59 per cent interest rate provided in FY22.

EPFO's investible corpus crosses Rs 21 trn in FY23, ETF investments at 9.2%

The total investible corpus under the social security organisation has nearly doubled in the past five years. Earlier in FY19, the total corpus had stood at Rs 11.1 trillion

Higher pension: EPFO extends deadline to upload wage details till 31 Dec

Till 12 July this year, close to 1.8 million pensioners have applied for the higher pension option, of which 5.52 lakh applications for validation of option/joint options are still pending

Poorer states drove formal job creation in January-June period: EPFO data

Net payroll addition is calculated by taking into account the number of new subscribers, the number of exits and the return of old subscribers

EPFO issues SOP for processing joint declaration for profile updation

In an internal circular issued to its zonal offices last Tuesday, the SOP for the process of joint declaration for correction in UAN profiles

Fresh formal job creation touches 9 month high in June, shows EPFO data

The monthly data released by the EPFO is part of the government's ongoing effort to monitor formal-sector employment using payrolls as a metric

Top headlines: Jio Financial shares to debut, big techs seek relaxation

Business Standard brings you the top headlines at this hour

EPFO drives nearly 52% of equity ETF inflows in 2022-23, shows data

Retirement fund allocates Rs 53,000+ crore to equity ETFs

EPFO invested Rs 13,017 crore in ETFs during April-July this fiscal: Govt

Retirement fund body EPFO has invested Rs 13,017 crore in exchange traded funds (ETFs) in the April-July period of the current fiscal year, Parliament was informed on Thursday. Employees' Provident Fund Organisation (EPFO) invested Rs 53,081 crore in ETFs in 2022-23, Rs 43,568 crore in 2021-22 and Rs 32,071 crore in 2020-21, according to a written reply to the Rajya Sabha by Minister of State for Labour and Employment Rameswar Teli. The EPFO invested Rs 31,501 crore in ETFs in 2019-20 and Rs 27,974 crore in 2018-19, it said. The minister told the House that the EPFO invests funds as per the investment pattern notified by the government and does not invest directly in individual stocks, including those of any blue-chip company. "The EPFO invests in equity markets through ETFs, replicating BSE Sensex and Nifty 50 indices. From time to time, EPFO has also invested in ETFs constructed specifically for disinvestment of shareholding of the Government of India in body corporates," he ...

Govt ratifies 8.15% interest rate on Employees Provident Fund for 2022-23

The government has ratified the rate of interest at 8.15 per cent rate on deposits under the Employees Provident Fund scheme for the financial year 2022-23. Retirement fund body EPFO on March 28, 2023, had marginally raised the interest rate on employees' provident fund (EPF) deposits to 8.15 per cent for 2022-23 for its over six crore subscribers. As per an official order issued on Monday, the EPFO has asked the filed offices for crediting the interest at 8.15 per cent on EPF for 2022-23 into the accounts of members. The order came after the finance ministry's concurrence to the EPF rate of interest approved by EPFO trustees earlier in March this year. Now the EPFO field offices will start the process of crediting the internet into subscribers' accounts. In March 2022, Employees' Provident Fund Organisation (EPFO) had reduced the interest rate on EPF deposits for 2021-22 to a four-decade low of 8.10 per cent from 8.5 per cent in 2020-21. This was the lowest since 1977-78, when t

Fresh Formal job creation slows down in May, shows EPFO data

However, the net monthly payroll numbers are provisional in nature and often revised sharply the following month

With fewer than 15 days to deadline, check how to apply for higher pension

Those willing to apply for a higher pension under EPS can do so until June 26, 2023

Formal job creation up second year on trot, hits 4-yr high, shows EPFO data

Share of women among new subscribers grows to 26% in FY23 from 21% in FY19; share of young people (18-28 age group) getting formal jobs has risen to 66.5% in FY23 from 62.1% in FY21

EPFO issues circular for subscribers to calculate dues and interest rates

This transfer will happen once the application form for higher pension is accepted by the social security organisation

Uptick in PF enrolment, 1.38 cr net users joined EPFO scheme in 2021-22

The latest EPFO payroll figures from the past five years (2017-22) indicate that Maharashtra, Karnataka, Tamil Nadu, Gujarat, and Haryana have contributed significantly to the overall net EPFO

'Not found': EPFO's e-passbook service is still down for some users

EPFO answered users on Twitter with a message, "Dear member, we regret the inconvenience. The concerned group is investigating the matter"

New formal job creation in February at 21-month low, shows EPFO data

This is the lowest number of new subscribers joining the EPF, since May 2021, when only 649,618 new subscribers had subscribed to the fund

Fresh formal job creation below 1 million for third month: EPFO data

Surprisingly, the number of new male subscribers fell more (14.9 per cent) than female (12.9 per cent) in December