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EPFO has added 15.29 lakh net subscribers in January 2022, as per the latest provisional payroll data. This is an increase of 2.69 lakh net subscribers added in the month under review, as compared to the net additions during December last year.
From the total, about 8.64 lakh new members have been registered under the social security ambit of EPF & MP Act, 1952 for the first time, while somewhat 6.65 lakh net subscribers exited but re-joined EPFO by continuing their membership with EPFO instead of opting for final withdrawal.
"The payroll data also reflects a declining trend in the number of members exited since July 2021," the Ministry of Labour & Employment said.
In terms of age-wise performance, the age group of 18-25 years has registered the highest number of net enrolments with 6.90 lakh additions during January 2022, which is around 45.11% of total net subscribers added during the month. This is followed by the age group of 29-35 years with a healthy addition of around 3.23 lakh net enrolments.
The ministry stated that this indicates that many first-time job seekers are joining the organized sector workforce in large numbers and signifies a crucial stage for an individual’s potential in terms of earning capacity.
As for gender-wise performance, in January 2022, net female payroll addition during the month is approximately 3.20 lakh. The share of female enrolment is approximately 21% of the total net subscribers' addition during January 2022 with an increase of 57,722 net enrolments over the previous month of December 2021.
On state-wise comparison of payroll figures, Maharashtra, Haryana, Gujarat, Tamil Nadu, and Karnataka are in lead by adding approximately 9.33 lakh subscribers during the month, which is around 61% of total net payroll addition across all age groups.
Meanwhile, industry-wise, the provisional data revealed that the ‘expert services’ category (consisting of manpower agencies, private security agencies, small contractors, etc.) constitutes 39.95% of total subscriber addition during the month. In addition, a growing trend in net payroll additions has been noted in industries like expert Services, Engineering Contractors, Trading (Commercial Establishments), and Building & Construction industry, etc.
The payroll data is provisional since the data generation is a continuous exercise, as updation of employee records is a continuous process. The previous data hence gets updated every month.
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