In May 2021, the EPFO added a total of 9.20 lakh members. This means that the second wave of the Kovid-19 epidemic is less affected. According to provisional payroll data released by the EPFO on July 20, the EPFO is able to increase its total membership by 20.20 lakhs in the first two months of this financial year.
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As indicated by payroll data, the impact of the second wave of infectious disease on payroll expansion is not as severe as the former. This is due to the timely support of the EPFO Government of India in the form of online rights submission, self-settlement, online transfer of PF account, grievance redressal and mobile device services.
5.37 lakh new members join for the first time
Of the total 9.20 lakh members who joined in May, about 5.73 lakh new members have come under the Employees Provident Fund Scheme for the first time. At the same time, about 3.47 members had separated from it, but with the change of employment, they were again covered by the EPFO and they retained their membership under the scheme through the transfer of funds.
The maximum number of people registered is 22-25 years old
The maximum number of people under the age of 22-25 registered with 2.39 lakh new members in May 2021 compared to the age of payroll data. At the same time, the number of people in the age group of 29-35 is 1.90 lakh. However, women’s share of the total number of new members added during this period was 21.77 per cent.
5 States added 11.83 lakh members
According to statistics, registered firms in Maharashtra, Haryana, Gujarat, Tamil Nadu and Karnataka have gained around 5.45 lakh new members this month. They account for 59.29 percent of the total payroll expansion for all age groups. These 5 states have added 11.83 lakh members out of 20.20 lakh members so far this fiscal year. The ‘Expert Services’ segment comprising employee agencies, private security agencies and small contractors accounted for 46.77 per cent of total member additions during the period. EPFO is releasing payroll data from May, 2018, which includes data for September 2017.