EPFO: Over 44 Lakh Jobs Created Between September And May This Year

As per the payroll data of retirement fund body EPFO, 4,474,859 jobs were created between September and May this year. Nonetheless, the organization lowered its previous new members enrolment estimate by 9.57% for September 2017 to April period to 3,731,251 from 4,126,138.

The payroll data released last month by the EPFO for September-April period suggest inclusion or enrolment of as many as 4,126,138 new members to the organisation's social security schemes for availing different benefits that include provident fund, pension and insurance.

The latest data released on Sunday indicate that the new members enrolment stood highest for the month of May in last eight months at 7,43,608. During the month, the highest number of enrolment of 2,51,526 was of individuals in the age group of 18-12 years. This was followed by 22 to 25 years age bracket in which as many as 1,90,090 members were enrolled.

The statement released by the EPFO suggests that the data is provisional as data updation of employees is a continuous exercise and keeps updating in subsequent months.

It added that in respect of each of the age-wise band, the estimates are arrived at after reducing members who cease their service from the new members enrolled during the month.

Also it stated that the estimates may be inclusive of temporary employees who may not be contributing to their services for the full year.

With PTI Inputs