Education

EPFO adds 12.54 lakh new subscribers in December: Labour ministry

Almost 53.70 lakh subscribers had been added within the first three quarters of the present monetary yr (April-December, 2020), regardless of the continuing virus pandemic, a launch issued by the ministry mentioned.

By hindustantimes.com | Written by Harshit Sabarwal, New Delhi

PUBLISHED ON FEB 20, 2021 09:47 PM IST

The Union labour ministry mentioned on Saturday {that a} complete of 12.54 lakh subscribers had been added to the Staff Provident Welfare Organisation’s (EPFO) payroll information in December, 2020 which highlighted a optimistic development within the development of subscribers’ base. The organisation had began releasing the payroll information since April 2018, which lined the time interval from September 2017 onwards.

“The info displays a rise of 44 % in web subscribers’ addition over the earlier month of November, 2020. Yr-on-year comparability of payroll information reveals 24% development for December 2020, indicating return to the pre-coronavirus illness (Covid-19) ranges of subscriber development for EPFO,” a launch issued by the ministry said.

Almost 53.70 lakh subscribers had been added within the first three quarters of the present monetary yr (April-December, 2020), regardless of the continuing virus pandemic, the discharge mentioned. With regard to web payroll addition, the third quarter (October-December), registered a sturdy 22% development over the second quarter, (July-September), the payroll information confirmed .

The ministry partly credited the expansion within the EPFO payroll numbers and the subscription base in direction of the current e-initiatives taken by the EPFO for making certain seamless and uninterrupted service supply together with the coverage assist for formalising the financial system by means of the best way of a number of schemes of the central authorities such because the Atmanirbhar Bharat Rojgar Yojana (ABRY), Pradhan Mantri Garib Kalyan Yojana (PMGKY) and the Pradhan Mantri Rojgar Protsahan Yojana (PMRPY).

The discharge additionally identified that in December final yr, almost 8.04 lakh new members had been below the preview of the EPFO. “Roughly 4.5 lakh web members exited after which rejoined EPFO indicating switching of jobs by the subscribers throughout the institutions lined by EPFO and subscribers selecting to retain membership by transferring funds slightly than choosing closing settlement,” it mentioned.

This improve in these rejoining confirmed that folks had been returning to their jobs amid a decline within the energetic coronavirus illness circumstances within the nation. The auto switch facility initiated by the EPFO allowed hassle-free switch of Provident Fund steadiness from the previous employer to the present employer.

5 states – Haryana, Maharashtra, Gujarat, Karnataka and Tamil Nadu – contributed probably the most in direction of employment era throughout all age teams by including 29.12 lakh web subscribers out of the 53.70 lakh in the course of the present monetary yr. In the meantime, the gender-wise evaluation of payroll information for December, 2020 confirmed that enrolment of girls was roughly 22.76%. A complete of 1.83 lakh subscribers had been girls out of the 8.04 lakh that had joined EPF scheme in December.

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