EPFO records 3.2 lakh new accounts in May

NEW DELHI: Net new enrolments with retirement fund body Employees’ Provident Fund Organisation (EPFO) rose to nearly 3.2 lakh in May from 1 lakh during April 2020, according to its latest payroll data, providing a perspective on employment in the formal sector amid the Covid-19 crisis.

Provisional payroll data released by the EPFO last month had showed that net new enrolments stood at 1.3 lakh in April this year. The figure has now been revised to slightly more than 1 lakh.

The net new enrolments with the EPFO had dropped to 5.7 lakh in March 2020 from 10.2 lakh in February, according to the payroll data released in May.


The net new enrolments with the EPFO hover around 7 lakh every month on an average. During 2019-20, the number of net new subscribers rose to 78.6 lakh compared to 61.1 lakh in the preceding fiscal, according to the latest payroll data released on Monday.