EPFO Pay Roll Data: EPFO added 15.29 Lakh New Net Subscribers

EPFO‘s provisional payroll data was revealed today, March 20th, 2022, revealing that the organisation added 15.29 lakh net members in January 2022. A month-over-month comparison of payroll data also shows a 2.69 lakh net subscriber acquisition in January 2022 as compared to the previous month’s net additions in December 2021.

Around 8.64 lakh new members were registered for the first time under the social security purview of the EPF & MP Act, 1952, out of the total 15.29 lakh net subscribers added during the month. Approximately 6.65 lakh net subscribers left EPFO but returned by renewing their membership rather than opting for total withdrawal. Since July 2021, the number of members who have left has been decreasing, according to payroll statistics.

When comparing payroll statistics by age group, the age group of 18-25 years had the most net enrolments with 6.90 lakh additions in January2022, accounting for 45.11 percent of overall net subscriber additions for the month. The age bracket of 29-35 years is next, with a strong increase of roughly 3.23 lakh net enrolments. This suggests that a big number of first-time job seekers are joining the organised sector workforce, indicating a critical stage in an individual’s earning potential.

The establishments covered in the states of Maharashtra, Haryana, Gujarat, Tamil Nadu, and Karnataka are in the lead, adding approximately 9.33 lakh subscribers during the month, accounting for around 61 percent of total net payroll addition across all age groups, according to a state-by-state comparison of payroll figures.

According to a gender-specific analysis, net female payroll additions for the month totaled over 3.20 lakh. With an increase of 57,722 net enrolments over the previous month of December 2021, female enrolment accounts for about 21% of overall net subscriber additions in January 2022.

According to industry-specific payroll data, the ‘expert services’ category (which includes manpower agencies, private security agencies, and small contractors, among others) accounted for 39.95 percent of total monthly subscriber additions. Furthermore, industries such as expert services, engineering contractors, trading (commercial establishments), and the building and construction industry, among others, have seen an increase in net payroll additions.

The payroll data is provisional because data generation is a continual activity, as is the updating of personnel records. As a result, the preceding data is updated once a month. EPFO has been releasing payroll statistics for the months of September 2017 and forward since April 2018.

Under the Employees’ Provident Funds & Miscellaneous Provisions Act, 1952, EPFO is committed to provide social security benefits in the form of Provident, Pension, and Insurance Funds to the country’s organised workforce. EPFO is also available on Twitter, WhatsApp, and Facebook to assist subscribers and address their difficulties, given the widespread usage of social media nowadays.