Business / EPFO net subscribers increase by 13% to 15.41 lakh in September

New Delhi: Close to 15.41 lakh subscribers were added to the EPFO (Employees' Provident Fund Organisation) in September this year, highlighted the provisional payroll data of EPFO that was released today. Out of these, around 8.95 lakh are new members while about 6.46 lakh rejoined EPFO by changing jobs. 

The report also said, the number of subscribers increased by 1.81 lakh in Septembers as compared to August when the count was 13.60 lakh.

Age-wise analysis: The highest number of enrolment were seen in the age-group of 22-25 years. About 4.12 lakh individual in the age-group joined EPFO in September. 

This is followed by age-group of 18-21 with around 3.18 lakh net enrolments. This indicates that many first-time job seekers are joining organised sector workforce in large numbers and have contributed around 47.39 % of total net subscriber additions in September, 2021, it also said

State-wise analysis: Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are in lead by adding approximately 9.41 lakh subscribers during the month, which is around 61 % of total net payroll addition across all age groups.

Gender-wise analysis: This indicates that the net share of female enrolment during the month is around 3.27 lakh. 

“Month on month comparison shows that the net addition of female subscribers has increased roughly by 0.60 lakh during in the month of September in comparison to the previous month of August, 2021 when 2.67 lakh net subscribers were added into the payroll. This is largely due to lower female member exits during the month."

Industry-wise analysis: Meanwhile ‘expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc.) constitutes 41.22% of total subscriber addition during the month, the industry wise analysis suggest, the report said. 

“Apart from this, growing trend in net payroll additions has been noted in industries like trading-commercial establishments, engineering products, building & construction, textiles, garment making, hospitals and financing establishments."