Employees’ Provident Fund: 6.13 lakh net payroll enrolments in March

 

About 6.13 lakh net payroll enrolments were recorded in the month of March under the Employees’ Provident Fund Organisation (EPFO), taking the total net payroll enrolment to 39.35 lakh during September 2017-March 2018, the latest data released by EPFO showed. Payroll enrollment in February had slowed to a four-month low of 5.89 lakh in February this year.
The first set of payroll data was released by the EPFO last month. The EPFO said that the data for most recent months are provisional as updating of employees records is a continuous process and are likely to be updated in subsequent months.
As per the data, about 60 percent of the payroll enrolment were recorded in the expert service segment across all age buckets or groups for March. The segments where enrolments were substantial included electric, mechanical or general engineering products followed by building and construction industry, trading & commercial establishments and textiles.
States which recorded major net enrolments across age buckets included Maharashtra, Tamil Nadu and Gujarat during the seven-month period till March this year, the data showed.
The EPFO also said that this is age-band wise data of all non-zero contributors that are registered under EPFO during a particular month and for each age-wise band, the estimates are net of the members enrolled and ceased during the month as per records of the EPFO.
Source: Indian Express