The ministry of labour and employment on Wednesday said 16.82 lakh subscribers were added to the employment provident fund data in May 2022.
The ministry in a statement said the Employees’ Provident Fund Organisation (EPFO) provisional payroll data showed an increase of 7.62 lakh net subscribers in May 2022 as compared to the net subscription in May 2021.
Out of the total 16.82 lakh subscribers added in May 2022, around 9.60 lakh new members have been covered under the ambit of the Employees’ Provident Funds and Miscellaneous Provisions Act (EPF & MP) for the first time.
Approximately 7.21 lakh net subscribers quit but rejoined the EPFO by changing their jobs within the establishments covered by EPFO and opted to continue their membership under the EPF Scheme, by transferring their funds instead of applying for final PF withdrawal.
The new enrollment during the month is higher than the monthly average recorded during the last fiscal, said the labour ministry.
Age-wise comparison of payroll data indicates that the age-group of 22 to 25 years has registered the highest number of net enrolments with 4.33 lakh additions in May 2022. The ministry said the data shows that many first-time job seekers are joining organised sector workforce in large numbers.
State-wise comparison of payroll figures highlights that the establishments covered in the states of Maharashtra, Karnataka, Tamil Nadu, Haryana, Gujarat and Delhi remain in the lead by adding approximately 11.34 lakh net subscribers during the month, which is 67.42 per cent of total net payroll addition across all age groups.
Gender-wise analysis indicates that net female payroll addition is approximately 3.42 lakh during the month and share of female enrolment is 20.39 per cent of the net subscriber addition during May 2022.
The classification of industry-wise payroll data indicates that mainly two categories ‘expert services’ (consisting of manpower agencies, private security agencies and small contractors etc.) and ‘trading-commercial establishments’ constitute 50.51 per cent of the total subscriber addition during the month. Apart from this, a growing trend has been noted in other industries like ‘building and construction industry’, ‘ garment making’, ‘financing establishment’, ‘hotel’ and ‘iron and steel’ during the month.
The payroll data is provisional since the data generation is a continuous exercise, as updation of employee records is a continuous process. The previous data hence gets updated every month. From the month of April 2018, EPFO has been releasing payroll data covering the period September 2017 onwards.
— ENDS —