Millennium Post
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EPFO enrollment is 21.85% more than last fiscal: Centre

EPFO enrollment is 21.85% more than last fiscal: Centre
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New Delhi: The Ministry of Labour and Empowerment has clarified that net payroll enrolment under the Employees' Provident Fund Organisation (EPFO) during the months of April 2022 to September 2022, which was released on November 20, is 21.85 percent higher than the monthly average recorded during the last financial year.

The ministry has also stated that data updation is dynamic in nature and members rejoin EPFO by changing their jobs within the establishments covered under EPF & MP Act, 1952.

Presenting the data of April as a case of reference, the ministry said that as per the data released on November 20, total 10.43 lakh new members were added in the month of April 2022 against 9.23 lakh subscribers reported in the data released in June.

In addition, it is important to note that the payroll data released on November 20 also reflects that new members' addition during the month of September 2022 is 11.13 percent more than the average of new membership addition during the last Financial Year 2021-22.

"Out of 16.82 lakh members added during the month, 9.34 lakh new members have joined EPFO and around 7.49 lakh net members exited but rejoined EPFO by changing their jobs within the establishments covered under EPF & MP Act, 1952," the ministry said in an official statement.

Notably, Millennium Post in its November 21 edition, has reported that new subscribers' addition under the social security schemes run by the Employees' Provident Fund Organisation (EPFO) fell below the 10 lakh-mark for the first time in the current fiscal in September at 9.34 lakh

"As per rules, the due date for depositing contributions for a particular month is 15th of the following month, but employers continue to pay the dues belatedly with liability of interest and damages for the delayed period. Due to this flexibility, EPFO's contributory member and establishment data for any wage month remains dynamic," it said.

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