Over 3 crore new subscribers joined the government’s EPF scheme in around two years. “During September 2017 – December 2019; 3,12,09,293 new subscribers joined the EPF scheme,” National Statistical Office, Ministry of Statistics & Programme Implementation said in a statement today. The EPF data gives an insight into the level of employment in the formal sector.
The Ministry has been releasing employment-related statistics in the formal sector, covering the period September 2017 onwards, since April 2018. The data is based on the number of subscribers joining three major schemes – Employees’ Provident Fund (EPF) Scheme, the Employees’ State Insurance (ESI) Scheme and the National Pension Scheme (NPS).
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The total number of new subscribers during September 2017-March 2018 was 84,57,404. Over one crore new subscribers were added during April 2018 – March 2019. As many as 1,39,44,349 new subscribers, including 1,10,20,080 males and 29,23,962 female and 305 ‘others’ joined the scheme in this period.
Source: Financial Express
