EPFO adds 18.36 lakh new members in June 2022. Details here
Premium- In June 2022, EPFO registered an increase of 5.53 lakh in terms of net member addition compared to the same month last year.
EPFO added 18.36 lakh net members in June this year, as per the provisional payroll data. In the month under review, the member addition climbed by 9.21% as compared to May. Further, in June 2022, EPFO registered an increase of 5.53 lakh in terms of net member addition compared to the same month last year.
As per Ministry of Labour & Employment data, from the total of 8.36 lakh members added in June 2022, approximately 10.54 lakh new members have been covered under EPF & MP Act, 1952 for the first time.
"New member joining has shown a growing trend since April 2022," the ministry said.
Further, approximately 7.82 lakh net members exited but re-joined EPFO by changing their jobs within the establishments covered by EPFO and opted to transfer their funds from the previous PF account to the current account instead of applying for final PF withdrawal.
"The new enrolment during the month is higher than the monthly average recorded during the last fiscal," it added.
On age-wise comparison, the age group of 22-25 years has registered the highest number of net enrolments with 4.72 lakh additions during June 2022. The ministry said, "this shows that many first-time job seekers are joining organized sector workforce in large numbers."
In terms of state-wise, the establishments covered in the states of Maharashtra, Karnataka, Tamil Nadu, Haryana, Gujarat, and Delhi continue to remain in lead by adding approximately 12.61 lakh net members during the month, which is 68.66% of the total net payroll addition across all age groups.
Moreover, in terms of gender-wise, enrolment of net female members has increased to 4.06 lakh in June from 3.43 lakh during last month, registering an increase of 18.37%.
As per the ministry, it is also observed that participation of the female workforce in organised sector has been the highest in the last 12 months. Accordingly, the percentage share of net female member addition has increased from 20.37% in May 2022 to 22.09% in the month of June 2022.
EPFO’s payroll is a part of the organized sector workforce for those establishments which are covered under the provisions of the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952.
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