Nearly one-fourth of additions to the net EPFO are switched jobs

Nearly a fourth of the net payroll in the formal sector comprises people who are switching between jobs, the latest data released by the EPFO showed

Nearly a fourth of the net payroll in the formal sector comprises people who are switching between jobs, the latest data released by the Employees’ Provident Fund Organisation (EPFO) showed.

Concerned by the continuous downward revision in the monthly net enrolment numbers, the EPFO has begun counting people quitting their previous jobs and joining a new one as an addition to the net payroll.

Between September 2017 and July 2018, 6.2 million people were added to the payroll. Out of this, 1.5 million people, about 24 per cent of the net payroll count, were those who exited their EPF subscription