Formal jobs created falls 30% in October, EPFO data shows

Formal jobs created under the Employees’ Provident Fund Organisation fell month-on-month by 30.2% to 1.29 million compared to 1.68 million net new subscribers added in September, shows the provisional payroll data of EPFO.

This is the third lowest addition in the current fiscal with least addition of 1.21 million in May and 1.29 million in April. This is despite October being the festive month. Net new subscribers added to EPFO were 1.42 million in June, 1.55 million in July and 1.53 million in August.

A year-on-year comparison of payroll data shows net new additions of 1.29 million in October this year was a marginal growth compared to 1.27 million added in October 2021.


The provisional payroll data of EPFO, released on Tuesday, shows that around 2,282 new establishments have started complying for the first time under the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952 ensuring social security cover to their employees

Out of the total 1.29 million net subscribers added during the month, around 0.72 million new members have been enrolled under the social security cover of EPF & MP Act, 1952 for the first time, it said.

Approximately 0.56 million net subscribers exited but re-joined EPFO by transferring their accumulations from previous PF account to the current PF account, instead of claiming for final withdrawal.

Among the new members, 0.22 million members registered were from the age group of 18-21 followed by 0.19 million members in the 22-25 years age bracket. Out of total new members joined, approximately 57.25% are from the age-group of 18-25 years of age.

Gender-wise analysis of payroll data indicates that enrolment of net female members has been 0.26 million in October, 2022. Out of this, 72.7% or 0.19 million females have joined EPFO for the first time during the month.

State-wise payroll figures show that top five states account for 60.15% of the total net payroll addition among all age groups with Maharashtra, Karnataka, Tamil Nadu, Delhi and Haryana adding 0.77 million net new members during the month.

According to the statement, the payroll data is provisional since the data generation is a continuous exercise, as updation of employee record is a continuous process.

EPFO is a social security organization responsible for providing a number of benefits of provident fund, pension and insurance to the members covered under the statute of EPF & MP Act, 1952.

EPFO has been releasing payroll data since April 2018, covering the period September 2017 onwards.