The provisional payroll data of EPFO highlights a growing trend with the addition of 12.37 lakh net subscribers during the month of February, 2021, a Labour Ministry statement said
Net new enrolments with retirement fund body EPFO grew by nearly 20% to 12.37 lakh in February compared to the same month in 2020, according to the payroll data released on today, providing a perspective on formal sector employment amid the coronavirus pandemic.
The provisional payroll data of EPFO highlights a growing trend with the addition of 12.37 lakh net subscribers during the month of February, 2021, a Labour Ministry statement said.
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.
Source: Mint
