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This article is more than 1 year old.

EPFO adds over 8 lakh net subscribers during first quarter of FY 21: Payroll data

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The subscriber base of EPFO increased by nearly 8.47 lakh members during the first quarter of FY21, according to provisional payroll data released today.

EPFO adds over 8 lakh net subscribers during first quarter of FY 21: Payroll data
Despite coronavirus crisis, the EPFO subscribers base increased by nearly 8.47 lakh members during the first quarter of FY21, according to provisional payroll data released today.
The update suggests that the COVID-19 pandemic outbreak had adversely affected the enrolments in April and May 2020. Despite lockdown, about 0.20 lakh and 1.72 lakh net new subscribers were added to social security schemes of EPFO in April and May 2020.
According to payroll data, there were recovery in June with addition of 6.55 lakh net subscribers, registering a 280 percent month-on-month growth.
The subscriber base growth is on account of increased number of new subscribers, lower exits and higher rejoining by exited members, an EPFO statement said. The new subscribers joining have increased by 64 percent from 3.03 lakh in May to 4.98 lakh in June.
In addition, the exits from EPFO subscriber base declined by nearly 33 percent from 4.45 lakh in May to 2.96 lakh in June 2020, according to the statement.
The data published comprises all the new members who have joined during the month and whose contribution is received.
The members who exited and then rejoined indicate witching of jobs. More subscribers choose to retain membership by transferring funds rather than opting for final settlement.
Gender-wise analysis suggests that the new enrolment of female workers has improved from 37,085 in April to 106,059 in June in absolute terms even as the overall female participation in workforce remains low, it pointed out.
Category-wise analysis of industry indicates “Expert services” category had a share of about 46 percent and 45 percent during 2018-19 and 2019-20, respectively.
In the first quarter of 2020-21 it stands at 52.7 percent, which reflects that many industries are yet to recover but Expert Services have made good progress, the statement added.
The absolute figure for net enrolment in Expert Services category during June 2020 is 3.45 lakh, which is more than the monthly average of 3 lakh during 2019-20. Expert services predominantly consist of manpower agencies, private security agencies and small contractors, it explained.
The new establishments that remitted their first ECR (Electronic Challan cum Return) have grown from the low of 820 in April to 1,802 in May. In June, the growth continued with 2,390 establishments registering their first ECR recording a month on month growth of 32 percent.
EPFO manages social security funds of workers in the organised and semi-organised sector in India and has more than 6 crore active members.
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