EPFO adds 1.27 mn subscribers in October, clocks 10.2% YoY increase

The EPFO provides provident fund, pension benefits to the members on their retirement and family pension & insurance benefits to their families in case of untimely death of the member

Retirement fund body EPFO has added 12.73 lakh net subscribers in October, registering an increase of 10.22 per cent compared to the same month last year, according to the latest payroll data.

"The provisional payroll data of EPFO released on 20th December 2021 highlights that EPFO has added 12.73 lakh net subscribers during the month of October 2021," a labour ministry statement said.

According to the statement, year-on-year comparison shows an increase of around 10.22 per cent in net payroll additions in October, 2021 as compared to 11.55 lakh net subscribers added during October 2020.

Of the total 12.73 lakh net subscribers added,