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EPFO Payroll Data: Jobs in organized sector grew by 34% in April 2022 – News

EPFO Payroll Data: In April 2022, there has been an increase in 37.9 percent jobs in the formal sector. EPFO has added 17.08 lakh new subscribers in April 2022. Which is 4.32 lakh subscribers more in April 2021. EPFO added 12.76 lakh new subscribers in April 2021. The Employees’ Provident Fund (EPFO) has released the provisional payroll data

According to the data released by the Employees’ Provident Fund Organization (EPFO), a total of 17.08 lakh new EPF subscribers were added in April 2022. Which is 34 percent more than in April 2021. Out of 17.08 lakh who have become new subscribers, 9.23 lakh have joined for the first time under the EPF Act. While 7.85 lakh EPF subscribers were out of EPF but due to change of job again they have become members of EPF and EPS again. Instead of withdrawing the amount deposited in the old PF account, these people have transferred the amount to the existing EPF account. The number of women in the total subscribers is 3.65 lakhs. That is, the number is 17,187 more than in March 2022. The share of women subscribers in the total payroll is 21.38 percent.

According to the data released by the Ministry of Labor, the highest number of jobs in the organized sector have been created in Maharashtra, Haryana, Gujarat, Tamil Nadu, Delhi and Karnataka. In these states, 11.60 lakh people have got jobs in the organized sector, which is 67.91 percent of the total payroll. Looking at industry-wise payroll data, expert services include manpower agencies, private security agencies and small contractors. Along with this, many new people joining on the payroll in the building, construction, textile, schools, restaurants and cement industries have also been seen who have become members of EPFO.

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