EPFO payroll data: 12.76 lakh net subscribers added during April, 2021

Jun 21, 2021 | Business

The provisional payroll data of EPFO published on 20th June, 2021 highlights that EPFO has added around 12.76 lakh net subscribers during April, 2021. Despite the second wave of COVID-19 pandemic, April 2021 registered an increase of 13.73% net subscribers addition as compared to the previous month during which around 11.22 lakh net subscribers were added to the payroll. Data reflects that the number of exits in the month of April, 2021 have declined by 87,821 and rejoining has increased by 92,864 subscribers as compared to March, 2021.

Of the 12.76 lakh net subscribers added during the month, around 6.89 lakh new members have come into the social security coverage of EPFO for the first time. Around 5.86 lakh net subscribers exited and then rejoined EPFO by changing their jobs within the establishments covered by EPFO and choose to retain membership through transfer of funds rather than opting for final settlement.

Age-wise comparison of payroll data shows that the age-group of 22-25 years has registered highest number of net enrollments with around 3.27 lakh additions during the month of April, 2021. This is followed by age-group of 29-35 with around 2.72 lakh net enrollments. The members of 18-25 age-groups, usually first timers in the job market, have contributed around 43.35% of total net subscriber additions in April, 2021.

State-wise comparison of payroll figures shows that establishments registered with the states of Maharashtra, Haryana, Gujarat, Tamilnadu and Karnataka to remain in forefront by adding approximately 7.58 lakh subscribers during the month, which is around 59.41% of total net payroll addition across all age groups. The North Eastern (NE) states have shown above average growth in terms of net subscribers addition as compared with previous month. 

Gender-wise analysis indicates that the share of female’s enrolment is approximately 22% of total net subscribers addition during the month. Month-on-month analysis reveals an increasing trend in net female subscribers by adding 2.81 lakh enrollments during April, 2021 which was 2.42 lakh during March, 2021. In addition to this, number of female subscribers who have come under the ambit of EPFO for the first time, has also increased to 1.90 lakh in April, 2021 from 1.84 lakh in March, 2021.

Industry-wise payroll data indicates that ‘expert services’ category (consisting of manpower agencies, private security agencies and small contractors etc.) constitutes 45% of total subscribers addition during the month. In addition, industries involved in making plastic products, beedi, schools, banks and establishments related to iron & steel sectors have also registered above average growth in terms of net addition of subscribers during the of April, 2021 as compared to the previous month of March, 2021.

The payroll data is provisional since the data generation is a continuous exercise as updation of employee record is a continuous process. The previous data hence gets updated every month. Since April, 2018 EPFO has been releasing payroll data covering the period September 2017 onwards.

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MJPS/MS/jk 

(Release ID: 1728788)
Visitor Counter : 2




EPFO adds 12.37 lakh net subscribers in the month of February, 2021

Apr 21, 2021 | Business

The provisional payroll data of EPFO has been published on 20th April, 2021 highlights a growing trend with the addition of 12.37 lakh net subscribers during the month of February, 2021. Despite COVID-19 pandemic, EPFO has added around 69.58 lakh net subscribers during the current financial year.

The data reflects growth of 3.52% in net subscribers addition in February, 2021 over January, 2021. Year-on-year comparison of payroll data indicates an increase of 19.63% in net subscribers as compared to the corresponding period in February 2020.The growth may partly be attributed to various e-initiatives taken by EPFO for seamless and uninterrupted service delivery in addition to the policy support for formalization of the economy through ABRY, PMGKY and PMRPY schemes of Government of India, amid COVID -19 pandemic.

Of the 12.37 lakh net subscribers added during the month of February 2021, around 7.56 lakh new members have come into the social security ambit of EPFO for the first time. Around 4.81 lakh net subscribers exited and then rejoined EPFO by switching their jobs within the establishments covered by EPFO and choosing to retain membership through transfer of funds rather than opting for final settlement.

The data of exited members is based on the claims submitted by the individuals/establishments and the exit data uploaded by employers, whereas number of new subscribers is based on the Universal Account Number (UAN) generated in the system and has received non-zero subscription.

Age-wise analysis indicates that during February 2021, the age-bracket of 22-25 has registered highest number of net enrollments with around 3.29 lakh net subscribers addition. This is followed by age-bracket of 29-35 with around 2.51 lakh net enrollments. This age group can be considered as experienced workers who changed jobs for career growth and opted to be with EPFO.

Category-wise analysis of industries reflects dominance of ‘expert services’ category with overall additions of 4.99 lakh net payroll additions in February 2021, followed by ‘Trading-commercial establishments’ category, contributing around 84,000 subscribers.

Pan India comparison shows that states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are in forefront of net payroll addition. These five states contributed 54.81% of the total net subscribers additions across all the age-groups by adding 38.14 lakh net subscribers during the current financial year.

Gender-wise analysis reflects addition of around 2.60 lakh net female subscribersin the month of February, 2021 which is 21% of total net addition during the month. Month-on-month comparison indicates an increase of approximately 12.74% over the previous month of January, 2020.

The payroll data is provisional since the data generation is a continuous exercise as updation of employee record is a continuous process. The previous data hence gets updated every month. Since April, 2018 EPFO has been releasing payroll data covering the period September 2017 onwards. The data published comprises of members who have joined during the month and whose contribution has been received.

During the difficult time of Covid19 pandemic, EPFO is committed to provide a helping hand to all its stakeholders and reaffirms its vision to be an innovation driven social security organisation aiming to ensure Nirbadh-Seamless and uninterrupted service delivery.

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MS/jk

(Release ID: 1712925)
Visitor Counter : 28




EPFO adds 13.36 lakh net subscribers in the month of January, 2021

Mar 22, 2021 | Business

The provisional payroll data of EPFO published on 20th March, 2021 highlights a growing trend of subscriber base with the addition of 13.36 lakh net subscribers during the month of January, 2021. Despite COVID-19 pandemic, EPFO added around 62.49 lakh subscribers during  the current financial year.

The data reflects growth of 24% for the month of January, 2021 over December, 2020. Year-on-year comparison of payroll data indicates an increase of 27.79% in net subscribers’ as compared to the corresponding period last year, indicating return to the pre-Covid levels of subscriber growth for EPFO. Growing  trend in EPFO payroll numbers and the accelerated expansion of the subscription base may partly be attributed to recent e-initiatives taken by EPFO for seamless and uninterrupted service delivery in addition to the policy support for formalization of the economy through ABRY, PMGKY and PMRPY schemes of Government of India, amid COVID -19 pandemic. 

Of the 13.36 lakh net subscribers added during the month of January 2021, around 8.20 lakh new members will receive the benefit of EPFO’s social security schemes for the first time. Around 5.16 lakh net subscribers exited and then rejoined EPFO indicating switching of jobs by the subscribers within the establishments covered by EPFO and subscribers choosing to retain membership by transferring funds rather than opting for final settlement. Members are now availing the facility of hassle-free auto-transfer of PF holdings from old PF account to the new PF account on change of job, which facilitates continuity of their membership with EPFO.

Net payroll addition data reflects that the number of members exiting EPFO has been declining  continuously after the peaking in June 2020, during current financial year. This trend indicates that the adverse impact of COVID- 19 on members’ exit from EPFO has gradually dissipated.

The data of exited members is based on the claims submitted by the individuals/establishments and the exit data uploaded by employers, whereas number of new subscribers is based on the Universal Account Number (UAN) generated in the system and have received non-zero subscription.

Age-wise analysis indicates that during January 2021, the age-bracket of 22-25 has registered substantial growth in subscriber base with around 3.48 lakh net enrollments. This age-group may be considered as freshers in the job market. This is followed by age-bracket of 29-35 with around 2.69 lakh net enrollments, which can be seen as experienced workers who changed jobs for career growth and opted to be with EPFO.

Category-wise analysis of industry reflects healthy growth as compared with the previous months. The ‘expert services’ category still tops in volume terms with 5.65 lakh net payroll addition during January 2021 . Among top 10 industry classification Computer and IT services category along with Electrical, Mechanical or General Engineering Products category registered highest month-on-month  growth of around 40%  as compared to previous month with 42205 and  77392 net additions for January 2021, respectively. This was followed by Trading & Commercial establishments category with 82238 net payroll additions registering 27% growth as compared to previous month. 

Pan India comparison shows that states of Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka are in forefront of net payroll addition by adding 34.24 lakh net subscribers out of 62.49 lakh cumulative net subscribers added during the current financial year, across all the age-groups. 

Gender-wise analysis shows that 2.61 lakh net female subscribers were added in the month of January, 2021 showing an increase of approximately 30% over the previous month of December, 2020.

The payroll data is provisional since the data generation is a continuous exercise as updation of employee record is a continuous process. The previous data hence gets updated every month. Since April, 2018 EPFO has been releasing payroll data covering the period September 2017 onwards. The data published comprises of members who have joined during the month and whose contribution has been received.