EPFO Says 14.60 Lakh Net Subscribers Added During December 2021

The provisional payroll data of EPFO released on 20th February 2022 revealed that EPFO has added 14.60 lakh net subscribers during December 2021. Comparison shows an increase of around 2.06 lakh in net payroll additions in December 2021 as compared to 12.54 lakh net subscribers added during the corresponding month previous year. For the month of December 2021, the net subscriber addition has increased by 19.98 % as compared to previous month of November 2021.

Of the total 14.60 lakh net subscribers added, 9.11 lakh new members have been enrolled under EPF & MP Act, 1952 for the first time. Approximately 5.49 lakh net subscribers exited but rejoined EPFO by opting to continue their membership with EPFO by transferring their PF accumulations from previous to present PF account instead of opting for final withdrawal. Further, the number of members exiting EPFO has been on a declining trend since July, 2021.

Age-wise comparison of payroll data shows that the age-group of 22-25 years has registered highest number of net enrolments with 3.87 lakh additions during December, 2021. Age-group of 18-21 also registered a healthy addition of around 2.97 lakh net enrolments. Age-groups of 18-25 years have contributed around 46.89% of total net subscriber additions in December, 2021.This indicates that many first-time job seekers are joining the organised sector workforce in large numbers.

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