EPFO net adds 15.41 lakh subscribers in Sept

Retirement fund body EPFO net added 15.41 lakh subscribers in September 2021, reflecting a growing trend in net payroll additions post the second wave of the pandemic. The provisional payroll data of EPFO released today highlights that the EPFO has added around 15.41 lakh net subscribers during the month of September 2021,'' a statement by the Employees' Provident Fund Organisation (EPFO) said.

For the month of September, the net subscriber addition has increased by 1.81 lakh (or over 13 per cent) as compared to the previous month of August 2021 when it was 13.60 lakh. The data reflects a growing trend in net payroll for the first six months of the current financial year except in May, when the nation was reeling under the second wave of COVID-19. Many states had imposed local lockdowns during the period which hit economic activities.

The EPFO had net added 8,06,765 subscribers in April, which decreased to 5,62,216 in May this year. The net enrolments rose to 9,71,244 in June and further to 12,30,696 in July. The total net enrolments with the EPFO during first half of this fiscal (April to September 2021) stood at 64.72 lakh. The net new enrolments were 77.08 lakh in full fiscal 2020-21 and 78.58 lakh in 2019-20.

The EPFO stated that out of the total 15.41 lakh net subscribers added in September, around 8.95 lakh new members have been registered under the provisions of the EPF & MP Act, 1952 for the first time.