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EPFO Net Subscribers Increased to 69.58 lakh Despite COVID-19 Pandemic

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Despite the COVID-19 pandemic, EPFO has gained about 69.58 lakh net subscribers this fiscal year. EPFO's provisional payroll data, which was released on April 20th, 2021, shows a rising pattern, with a total of 12.37 lakh net subscribers added in February 2021. The data shows a 3.52 percent increase in net subscribers in February 2021 over January 2021. A year-over-year analysis of payroll data shows a 19.63 percent rise in net subscribers relative to the same timeframe in February 2020.

 

In the midst of the COVID -19 pandemic, the growth may be attributed in part to EPFO's various e-initiatives for smooth and uninterrupted service delivery, as well as policy support for formalisation of the economy through the ABRY, PMGKY, and PMRPY schemes of the Government of India.

EPFO Net Subscribers Increased to 69.58 lakh Despite COVID-19 Pandemic

Around 7.56 lakh new members have joined EPFO's social security ambit for the first time out of the 12.37 lakh net subscribers added in February 2021. Around 4.81 lakh net subscribers left EPFO and then returned by changing employment within EPFO-covered institutions and opting to keep their membership through a transfer of funds rather than a final settlement.

 

When comparing states across India, Maharashtra, Haryana, Gujarat, Tamil Nadu, and Karnataka come out on top in terms of net payroll growth. These five states added 38.14 lakh net subscribers in the current fiscal year, accounting for 54.81 percent of total net subscriber additions across all age groups.

During this tough time of the Covid19 pandemic, EPFO pledges to assist all of its stakeholders and reaffirms its vision of being an innovative social security organisation dedicated to ensuring Nirbadh-Seamless and continuous service delivery.

Story first published: Tuesday, April 20, 2021, 17:59 [IST]
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