EPFO added 10.11 lakh subscribers in November 2020

The Employees Provident Fund Organisation on Wednesday said it has added 10.11 lakh net subscribers in the month of November, 2020 while the total net new subscribers in the current fiscal till November stood at 45.29 lakh.

According to the provisional payroll data of EPFO, around 6.41 lakh new members joined EPFO in November while roughly 3.70 lakh net members exited and then rejoined EPFO.

"This indicates switching of jobs by subscribers within the establishments covered by EPFO and subscribers choosing to retain their membership by transferring of funds rather than opting for final settlement," EPFO said.


"Exited members rejoining also indicate that workers are returning to their jobs with decline in active Covid-19 cases in India," it added.

Age-wise analysis of the data indicates those in the 22-25 year age bracket has registered highest growth in subscriber base with around 2.72 lakh net enrollments in November. This was followed by around 2.21 lakh net enrollments in 18-21 years age bracket.

"The 18-25 age-group members can be considered as fresh hands in the labour market and have contributed roughly 48.72% of the new subscriber additions for November, 2020," EPFO said in a statement.

The share of females in new enrolment has increased from 21.64% in October, 2020 to 22.40% in November, 2020 with 1.43 lakh females joining the workforce in November.

Further, Maharashtra, Haryana, Gujarat, Tamil Nadu, and Karnataka remained at the forefront of the employment recovery cycle with adding approximately 53% of the total net payroll addition during the current financial year 2020-21 (from April to November, 2020) across all the age groups, shows the EPFO data.

Category-wise analysis of industry indicates ‘expert services’ category (which primarily includes manpower agencies, private security agencies and small contractors) continues to be the best performer by contributing a combined payroll of 23.45 lakh during the current financial year across all age groups.

"This constitutes approximately 60% of the net new payroll for the top ten industry categories for the same period," it said, adding recovery has started picking up in other sectors as well.