enrolments with retirement fund physique
EPFO rose to
August from 7.48
in July 2020, based on its newest payroll information, offering a perspective on employment
in the formal sector amid the coronavirus pandemic.
Provisional payroll information launched by the
EPFO final month had proven that web
enrolments stood at 8.45
in July this yr. The determine has now been revised right down to 7.48
enrolments with the Staff’ Provident Fund Organisation (
EPFO) had dropped to five.72
in March 2020 from 10.21
in February, based on the payroll information launched
Newest information launched on Tuesday confirmed that web
in April had been
in the unfavourable zone at (-) 1,04,608 in opposition to the determine of (-) 61,807 launched
in September. Because of this the variety of members who exited the
EPFO subscription was greater than those that joined or rejoined the scheme.
in July, provisional information had confirmed web
enrolments for the month April stood at 1
lakh, which was revised down to twenty,164
August and additional lowered to (-) 61,807
The variety of web
in the month of Could was additionally revised to (-) 35,336, from 40,551 estimated
in the info launched final month.
enrolments with the
EPFO hover round 7
lakh each month on a median.
Throughout 2019-20, the variety of web
new subscribers rose to 78.58
lakh as in comparison with 61.12
in the previous fiscal, based on the payroll information launched on Tuesday.
EPFO has been releasing the payroll information of
new subscribers since April 2018, protecting the interval ranging from September 2017.
The info additionally confirmed that in September 2017-
August 2020, the variety of web
new subscribers was over 1.75 crore.
EPFO mentioned the payroll information is provisional as updation of workers’
information is a steady course of and will get up to date
in subsequent months.
“The federal government introduced lockdown on March 24, 2020. Accordingly ECR (PF returns) submitting date for March month was prolonged to Could 15, 2020,” the
EPFO had mentioned
in Could whereas releasing the info.
In June, it had mentioned, “The due date for submission of ECRs for April 2020 has been prolonged
in view of the lockdown.”
The estimates are web of the
new members enrolled, members exited and rejoined through the month, as per
information of the
The estimates could embrace non permanent workers whose contributions might not be steady for the complete yr, it has mentioned.
EPFO manages social safety funds of employees
in the organised/ semi-organised sector
in India. It has greater than 6 crore energetic members (with no less than one month contribution through the yr).