Epfo Payroll Count

June sees rise in female workforce participation amid 1.92 mn new EPFO jobs

Around 59.14% of new members in June 2024 were aged 18-25, reflecting an ongoing trend where the majority of individuals entering the organised workforce are young, mostly first-time job seekers

Fresh formal jobs creation falls 10% to 9.06 mn in 2023: EPFO data

Furthermore, the number of new women subscribers declined by about 12 per cent to 2.35 million from 2.68 million last year

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

EPFO to run drive from December to recover dues from defaulting subscribers

With over 60 million subscribers and managing a corpus exceeding Rs 12 lakh crore, the EPFO provides its beneficiaries provident funds, pension, and insurance benefits through three schemes

Under new labour laws, unused leaves beyond 30 will be paid for by employer

The new regulation will do away with the system where unused leaves used to lapse beyond a certain time limit

EPFO adds 1.68 mn net subscribers in May, an 83% rise YoY: Govt data

Retirement fund body EPFO added 16.82 lakh new subscribers in May 2022, nearly 83 per cent more than 9.2 lakh enrolled in the year-ago month, according to official data. The provisional payroll data of EPFO released on Wednesday showed an increase of 7.62 lakh net subscribers in May 2022 as compared to the net subscription in the month of May 2021 last year, the labour ministry said in a statement. The EPFO had added 9.2 lakh net new subscribers in May 2021, it said. Out of the total 16.82 lakh subscribers added during May 2022, around 9.60 lakh new members have been covered under the ambit of EPF & MP Act, 1952 for the first time. Approximately 7.21 lakh net subscribers exited but rejoined EPFO by changing their jobs within the establishments covered by EPFO and opted to continue their membership under the EPF Scheme, by transferring their funds instead of applying for final PF withdrawal, it stated. The new enrolment during the month is higher than the monthly average recorded .

EPFO adds 1.283 million members in June amid Covid-19

Retirement fund body EPFO recorded net new enrolments of 12.83 lakh in June, giving an employment perspective in the country.

Spike in enrollments deceptive as high volatility mars EPFO payroll data

A certain set of establishments (not all), with at least 20 employees, are required to make contribution towards the provident fund (PF) of its workforce.

Job creation slows down to 1.3 mn in August from 1.44 mn in July: ESIC data

Gross enrolments of new subscribers with the ESIC were 14.9 million during 2018-19, the National Statistical Office (NSO) said in a report

3.11 million jobs added in 6 months, first EPFO payroll count shows

The payroll count is essentially the difference between the number of workers who joined and exited from the EPFO's fold and as such is the net addition to jobs